News Summary

• The Baltimore-based sports brand also provided a mediocre outlook for fiscal 2027.
• The stock closed down 16.7 percent at $4.90, leaving it with a market capitalization of $2.1 billion.
• The company said its results were hurt by higher costs, mainly from tariffs, and increased promotional pressure, particularly in its direct-to-consumer channels.
• As a result, the company said it will need to extend its restructuring plan to at least the end of this year.