Under Armour Inc. reported weaker-than-expected fiscal first-quarter results and issued a downbeat outlook as new U.S. tariffs on Chinese goods and soft North American demand erode margins and sales momentum, sending the stock down roughly 15% in pre-market trading. Revenue for the quarter ended 30 June slipped 4% to $1.13 billion, broadly matching analyst projections, while adjusted earnings fell to $0.02 a share, a cent short of expectations. The company posted a net loss of $0.01 a share. Gross margin improved 70 basis points to 48.2% on favorable currency movements, but inventory rose to $1.14 billion, topping forecasts. Looking ahead, the Baltimore-based sportswear maker expects current-quarter revenue to decline 6%–7% year on year and projects gross margin to narrow by 340–360 basis points, citing higher import duties, supply-chain costs and an unfavorable channel mix. Adjusted operating income is seen at $30 million to $40 million, well below Wall Street estimates. Under Armour is also undertaking a restructuring program that could cost $140 million to $160 million this fiscal year. Chief Executive Officer Kevin Plank said the company will emphasise premium products and pricing discipline as it seeks to revive growth amid intensifying competition and inflation-driven pressure on consumer spending.