RTTNews | Jul 31, 2020 10:34AM EDT

10:34 Friday, July 31, 2020 (RTTNews.com) - Shares of footwear, sports, and casual apparel maker Under Armour, Inc. (UA) are falling more than 4% Friday morning after the company said it expects Covid-19 to impact its business for the remainder of the year.

Under Armour estimates traffic trends to remain lower for the second half of this year.

However, the company's second-quarter results were better-than-expected. Loss per share on an adjusted basis of $0.31 per share beat the Street estimate for $0.41 loss per share.

Revenue was down 41 per cent to $708 million impacted by COVID-19-induced store closures. The consensus estimate was at $558.52 million.

Under Armour stock is currently trading at $9.77. It has been trading in the range of $6.37- $20.44 in the past 52 weeks.

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