November 4, 2019 / 12:08 PM / 17 days ago

Under Armour cuts annual revenue forecast

Nov 4 (Reuters) - Under Armour Inc lowered its forecast for annual revenue for a second straight time on Monday, citing a stronger dollar and challenges in its direct-to-consumer strategy.

The sportswear maker said it now expects revenue to be up about 2% in fiscal 2019 compared with the prior forecast of a 3% to 4% rise.

The forecast comes a day after the company said it was being probed by the federal investigators on its accounting practices and was cooperating with them.

Reporting by Nivedita Balu in Bengaluru; Editing by Arun Koyyur

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