(Reuters) -Under Armour on Tuesday posted a smaller-than-expected drop in fourth-quarter revenue, helped by the sportswear maker’s efforts to streamline its product lines that drove improved sales.
The Maryland-based retailer has been attempting to reset its business to reverse last year’s sales slump by focusing on full-price sale of its products, lower promotions, inventory and workforce reductions.
The company’s quarterly revenue fell 11% to $1.18 billion from a year ago, compared with analysts’ average estimate of a 12.4% drop to $1.17 billion, according to data compiled by LSEG.
The company, however expects revenue for the current quarter to decline 4% to 5%, compared with analysts’ expectations of a 1.9% fall, according to data compiled by LSEG.
It also refrained from providing an annual forecast, citing uncertainty surrounding trade policies and the macroeconomic environment, including potential demand-related and cost impacts from tariffs.
(Reporting by Neil J Kanatt and Savyata Mishra in Bengaluru; Editing by Shinjini Ganguli)
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