Under Armour (UAA) earnings Q3 2019 beat, but stock sinks


Under Armour‘s quarterly earnings and sales topped analysts’ estimates, but the company on Monday morning trimmed its revenue outlook for the full year, citing “traffic challenges.”

The retailer’s shares were plunging more than 12% in premarket trading, after news broke Sunday evening that federal agencies are investigating whether the company used bad accounting practices to make its finances look healthier.

Under Armour confirmed it has been cooperating with the U.S. Securities and Exchange Commission and the U.S. Department of Justice investigations.

A spokesperson for the company told CNBC in an email: “The company began responding in July 2017 to requests for documents and information…

Source cnbc.com

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