Under Armour Lowers Profit Targets for Year

Under Armour lowered its profit targets for its fiscal year, saying the price markdowns and higher freight costs that ate into quarterly earnings would continue to weigh on its results.

The Baltimore company said it still expects its revenue to grow about 5% to 7% for the fiscal year that started April 1 but the higher costs would leave its operating income between $300 million and $325 million, compared with its prior goal of $375 million to $400 million.

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