: The company said it would only recognize $43 million of the $163 million it had originally planned from The Sports Authority in 2016, according to Market Watch. The company said it would also take a $23 million impairment charge related to The Sports Authority during the second quarter. The sporting goods retailer said late Tuesday that it would report $4.93 billion in sales this year, down from the $5.00 billion forecast in April and below the $4.97 billion Fact Set estimate. Its shares tumbled 5.3% in Wednesday trading. See also:Under Armour cuts sales outlook for the year Analysts at Susquehanna Financial Group lowered their Under Armour UA, -3.92% price target to $40 from $44 after the news. The Sports Authority announced that it would liquidate rather than reorganize on April 26.
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