Under Armour Will Lose $120 Million in Anticipated Sales as Sports Authority Liquidates
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Under Armour will lose $120 million in expected sales to The Sports Authority this year as the chain liquidates in bankruptcy, the Baltimore-based brand said Tuesday. The sports apparel maker said in a Securities and Exchange Commission filing it will recognize only $43 million of $163 million in anticipated revenues from the sporting goods chain this year. The bankruptcy court recently approved the retailer's liquidation rather than a restructuring or sale of the business.