Under Armour reported first-quarter fiscal 2027 revenue of $1.1 billion for the period ended June 30, 2026, down 3% from a year earlier and slightly below market expectations, and cut its full-year sales outlook to a mid-single-digit percentage decline from a prior forecast for a slight decline. The weaker view reflects softer demand in North America and Asia-Pacific, where sales fell 9% and 6.6%, respectively, while EMEA rose 12% and Latin America increased 7.7%. By category, apparel, footwear and accessories all declined, and both wholesale and direct-to-consumer revenue weakened. Despite the revenue pressure, profitability improved. Net income swung to $545,000 from a loss of $2.61 million a year earlier, adjusted earnings per share rose to $0.05 from $0.02 and topped FactSet estimates of $0.02, and gross margin expanded 590 basis points to 54.1%, helped largely by about $70 million in tariff refunds. Under Armour kept its full-year adjusted earnings per share forecast at $0.08 to $0.12, roughly in line with market expectations, but projected an adjusted loss of $0.01 to $0.03 per share for the current quarter, versus analyst expectations for a profit. Kevin Plank, who returned to lead the company in 2024, has been trying to revive the brand by trimming product assortment and emphasizing higher-priced categories such as training, running and team sports. The outlook cut underscores how inflation, economic uncertainty and cautious discretionary spending continue to weigh on the sporting goods sector, with peers including Crocs and Nike also facing pressure.