Under Armor Q2 2019 earnings

Under Armor, Tuesday morning, announced mixed results in the second quarter, dropping its shares by more than 11% in pre-market transactions.

The sportswear retailer has updated its outlook for the year and is now forecasting a slight decline in sales in North America. Previously, she was expecting a "relatively stable" income in 2019. Under Armor was struggling to keep pace with rivals Nike, Lululemon and Adidas in the US, and was forced to resort to strong promotions for get rid of unsold at retailers like Kohl's and Dick's Sporting Goods – a tactic that weighs on profits.

CEO Kevin Plank said in a statement that Under Armor remains "heavily focused on … long-term strategies."

This is what Under Armor published for the second quarter of its fiscal year ended June 30, compared to what badysts expected, based on data extracted from Refinitiv:

• Adjusted loss per share: 4 cents against 5 cents expected
• Turnover: $ 1.192 billion against $ 1.199 billion

Under Armor announced a narrower net loss of $ 17.3 million, or 4 cents per share, compared with a loss of $ 95.5 million, or 21 cents a share, a year ago. That was a dime better than the loss of 5 cents per share expected by badysts, according to Refinitiv.

The loss in the last period included one cent per share from its minority interest in a Japanese license.

Net income for the second quarter was $ 1.192 billion, up from $ 1.175 billion a year ago, but estimates of $ 1.19 billion are missing.

According to Under Armor, clothing sales decreased by 1.1%, while shoes grew by 4.7%.

In North America, sales declined 3.2% in the quarter, while Under Armor's international operations grew 12% to 28% of total business.

At the close of trading on Monday, Under Armor shares had increased more than 50% this year.

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