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Under Armour (UAA.N) on Tuesday ​forecast another annual revenue decline and ‌expects profit below Wall Street estimates, as weak consumer spending and macroeconomic uncertainty weigh on demand ​in its key North American market.

Shares ​of the company, which has reported sales ⁠declines for three straight years amid ​CEO Kevin Plank's efforts to revive the business, ​fell 12% in premarket trading.

The downbeat report adds to concerns about the company's ability to stabilize its ​core business in a market where ​shoppers have grown more selective and competition from brands ‌such ⁠as Nike (NKE.N), Lululemon (LULU.O), Adidas (ADSGn.DE) and Puma (PUMG.DE) has intensified.

The company expects revenue for its fiscal year 2027 to fall slightly, compared with ​analysts' average expectation ​of ⁠a 1.6% rise to $5.05 billion, according to data compiled by LSEG.

Under ​Armour expects annual North American sales ​to ⁠decline by a low single-digit.

The company also projected annual adjusted profit per share of ⁠between 8 ​cents and 12 cents, ​compared with analysts' average expectation of 23 cents.