Shares of the firm rose 6.4 percent to $21 in pre-market trading Thursday.
Under Armour’s net losses for the second quarter extended to $95.5 million, or 21 cents a share, from $12.3 million, or 3 cents, a year earlier. Excluding the financial impact of the company’s restructuring efforts, losses tallied $34 million.
In February, the company laid out a plan to retool the company that would lead to pretax charges of $110 million to $130, but on Thursday those efforts were extended as the company identified another $80 in restructuring efforts.
Of the $155 million in cash charges expected by the company, up to $75 million will go to facility and lease terminations while up to $80 million will go toward contract termination and other items.
Revenues were up 8 percent to $1.2 billion with a boost from apparel, which saw sales increase 10 percent to $747 million.
But that pace isn’t expected to be maintained.
The company is now looking for revenues to increase this year by 3 percent to 4 percent, reflecting a low- to midsingle-digit decline in North American and growth of more than 25 percent abroad.
Analysts had pegged the company for 4.3 percent growth this year.
Kevin Plank, chairman and chief executive officer, said, “The ongoing improvements in our structure, systems and go-to-market process across our global business better position us to drive a more consistent, predictable path to deliver for our consumers, customers and shareholders over the long-term.”