Why Under Armour Shares Fell More Than 15% Last Month

Why Under Armour Shares Fell More Than 15% Last Month

Shares of sporting goods and casual apparel maker Under Armour (NYSE: UA)(NYSE: UAA) fell hard in May. According to data from S&P Global Market Intelligence, Under Armour's Class A shares fell 16% and the Class C shares lost 15.2%. Under Armour's revenue fell 22% to $930 million. Under Armour expects to reduce its full-year operating expenses by $325 million through a variety of cost-saving initiatives.