Under Armour announced today that it is revising its previously released outlook for the full year and second quarter of 2016 after recent developments related to the bankruptcy of Sports Authority. When Under Armour released its 1Q16 earnings results, the company did not believe the restructuring of Sports Authority would significantly impact sales. The recent decision to liquidate rather than restructure or sell Sports Authority has caused Under Armour to recognize that it will face an impairment charge of approximately $23 million in 2Q16 and full-year sales that will come up short. The company was able to realize only $43 million of the $163 million in revenue it expected from Sports Authority in 2016. Under Armour now expects 2016 revised net revenues of approximately $4.925 billion, down from $5.0 billion previously, representing revised year-over-year growth of 24%, down from 26% previously. The company expects full-year operating income of approximately $440–$445 million. For 2Q16, Under Armour still expects revenue growth to be in the high-20-percent range, consistent with its previous guidance. However, as a result of the Sports Authority bankruptcy, Under Armour now expects operating income of $17–$19 million in the quarter.