Under Armour Forecasts Fiscal Year Sales and Profit Below Wall Street Estimates

Under Armour's stock declined after the company issued a forecast for sales and profit for this fiscal year that trailed Wall Street projections. The athletic apparel maker cited a financial hit from the conflict in the Middle East as it laid out its expectations for the full year.

Under Armour issued the forecast for sales and profit for this fiscal year even as it absorbed pressure from the overseas turmoil.

@business reported that the combination of the lowered outlook and the explicit reference to Middle East impacts sent shares lower in early trading. The forecast trailed Wall Street projections by enough to disappoint investors who had anticipated stronger growth. Under Armour's stock declined as traders digested the numbers and the company's explanation for the softer tone.

The company pointed directly to the financial hit from the conflict in the Middle East without providing a specific dollar figure in its statement. The announcement marks the latest instance of a consumer-facing company flagging geopolitical tensions as a drag on performance.

Under Armour issued a forecast for sales and profit for this fiscal year that fell below consensus estimates compiled by analysts.