Under Armour shares drop after surprise profit decline warning for 2020
) on Tuesday forecast a surprise drop in 2020 revenue, saying the recent coronavirus outbreak in China would hurt sales in one of its fast-growing markets, sending its shares down 15%.
The company said the health epidemic would have a $50 million to $60 million impact on first-quarter sales.Analysts on average were expecting a growth of 4.2% in 2020, according to IBES data from Refinitiv.
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