Under Armour's shares skidded about 23 percent Tuesday after the sportswear maker reported lower-than-expected quarterly sales and announced that Chief Financial Officer Chip Molloy will step down.
The stock price was $19.17, down more than 23 percent from Monday's close.
Under Armour said Molloy is leaving for personal reasons. It did not elaborate. Molloy, the former CFO of PetSmart, joined Under Armour on last January.
The company's sales were hurt by intense competition and slowing growth in North America.
The company said net income fell to $104.9 million in the fourth quarter ended Dec. 31 from $105.6 million a year earlier.
On a per-share basis, earnings fell to 23 cents per for Class A, Class B and Class C shares from 24 cents a year earlier.