Company Earnings Update 2 minutesRegister for Free AccessUnder Armour Updates 2016 Outlook Based on Sports Authority Liquidation Coresight Research May 31, 2016 Executive Summary The US Bankruptcy Court in Delaware recently approved the liquidation of Sports Authority. Since the business will not be restructured or sold, Under Armour will recognize an impairment charge of $23 million in 2Q16 related to the liquidation. In addition, Under Armour will be able to recognize only $43 million of the $163 million in revenues it originally expected from Sports Authority in 2016. As a result, Under Armour has revised its 2016 net revenue guidance from $5.0 billion to approximately $4.925 billion, representing revised year-over-year sales growth of 24% compared to 26% previously. Please Login to read the full report. Not a member? Register for a free user account. This document was generated for Other research you may be interested in: Weekly US and UK Store Openings and Closures Tracker 2023, Week 30: US Openings Up 7%US Store Tracker Extra, August 2024: Big Lots and Macy’s Contribute to 83 Million Square Feet of Total Closed Retail Space for 2024US Grocery Retailing—Exploring Growth, Inflation, Competition, Trends and Strategies: Highlights from the Market NavigatorUS Consumer Tracker: Shoppers Show Reduced Awareness of Price Increases