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The other shoe has dropped for struggling sneaker company Under Armour.Under Armour reported quarterly sales Tuesday that fell nearly 5% from a year ago, missing forecasts badly. The company also lowered its outlook for the year again.That news sent the company's two classes of stock down more than 15% Tuesday. They had already lost nearly half their value for the year ahead of the earnings report. (Under Armour's UAA shares have voting rights while the UA shares do not.)CEO Kevin Plank said in the earnings release that the biggest problem is lower demand for its shoes and athletic apparel in its home market of the United States.The Baltimore-based company has been growing internationally, with sales surging in Europe, Latin America and Asia during the quarter.But those markets are still relatively tiny for Under Armour. Revenue in North America makes up more than three-quarters of its overall sales -- and those sales plunged 12% in the third quarter.It's a stunning fall from grace for Under Armour, which not that long ago was gaining market share at the expense of Nike and Adidas.The company signed Golden State Warriors star Steph Curry a few years ago, a move that seemed like a slam dunk success, since Curry has gone on to win multiple NBA MVP awards and two championships.But several iterations of the Curry shoes have routinely been mocked on social media for not looking cool. Even Curry's teammate Kevin Durant, who endorses Nike, poked fun at Under Armour earlier this year.Making matters worse, there have been reports of supply chain issues with the new Curry 4 line of sneakers. And Under Armour confirmed during its conference call with analysts Tuesday that it will delay some products to the fourth quarter.Under Armour also suffered from bad PR earlier this year after Plank agreed to join the White House's now defunct manufacturing council. Plank said in an interview with CNBC that "a pro-business president is something that is a real asset for the country."Curry told The Mercury News that he agreed with Plank -- but only "if you remove the 'et' from asset." Other professional athletes have been vocal about their disagreements with Trump as well.As such, Plank -- like many other CEOs -- has distanced himself from Trump lately.After Trump was reluctant to criticize neo-Nazis at a white supremacist rally, he then bashed Curry for not wanting to visit the White House and attacked athletes who protested the national anthem. Under Armour has come to the defense of its star endorsers.But that hasn't been enough to rejuvenate Under Armour's flagging sales or stock price.Meanwhile, Adidas has thrived in the past year while Under Armour and Nike have both struggled. Even Skechers has enjoyed a resurgence lately.So what can Under Armour do to get back on track? Neil Saunders, managing director of the research firm GlobalData Retail, wrote in a report that the company should continue to focus on expanding globally, which has been successful for Under Armour.But Saunders added that the company has to do more to court women as consumers, as Nike, Adidas and yoga apparel king Lululemon have successfully done."Under Armour is not so broken that it cannot be fixed. But the days of glory, when it would post double-digit uplifts in sales, are over. Now is the time to work out, slim down, and become more competitive," Saunders wrote.  3394

The leaders of North and South Korea met Saturday for a second time, South Korea's presidency announced.North Korean leader Kim Jong Un and South Korean President Moon Jae-in held a surprise meeting at the Demilitarized Zone, the South Korean presidency said in a statement.The two leaders "exchanged their opinions" on among other things successfully carrying out a future US-North Korea summit, according to the statement. President Donald Trump canceled a June 12 summit with Kim this week, then told reporters Friday he's still open to a meeting. 558

The Indianapolis 500 will be held without fans in attendance on Aug. 23 due to escalating concerns over the coronavirus pandemic in Marion County, the Indianapolis Motor Speedway announced Tuesday.It will mark the first time in the 109-year history of the Indy 500 that it will be run in front of empty stands at the 2.5-mile oval track.“As dedicated as we were to running the race this year with 25 percent attendance at our large outdoor facility, even with meaningful and careful precautions implemented by the city and state, the COVID-19 trends in Marion County and Indiana have worsened," a news release from IMS said.First held in 1911, the Indianapolis 500 is the largest single-day sporting event in the world with approximately 350,000 people annually packing the track's grandstands and infield to watch "The Greatest Spectacle in Racing." Running the race without fans prevents the seventh cancellation in Indy 500 history. The race was not held in 1917-18 during World War I, and from 1942-45 during World War II.In late March, IMS leaders rescheduled the race from May 24 to Aug. 23. Officials said on June 26 that Indy 500 attendance would be limited to no more than 50%.That number was further decreased on July 22 when plans were scaled back to host the race at 25% capacity. Face coverings would be required, and the Speedway released an 88-page health and safety plan that provided guidelines and protocols for how the race would be run in 2020.Even at 25% capacity, the race would have been the largest event held in the United States since the beginning of the coronavirus pandemic.IndyCar and IMS owner Roger Penske previously said he wouldn't run the race without fans, but the realities of the pandemic prevailed.“We need to be safe and smart about this,” Penske told the Associated Press. “Obviously we want full attendance, but we don’t want to jeopardize the health and safety of our fans and the community. We also don’t want to jeopardize the ability to hold a successful race.”In a news release, IMS said in the weeks since the June 26 announcement of 50% capacity, the number of COVID-19 cases in Marion County has tripled while the positivity rate has doubled."We said from the beginning of the pandemic we would put the health and safety of our community first, and while hosting spectators at limited capacity with our robust plan in place was appropriate in late June, it is not the right path forward based on the current environment," the release said.How fans will be impactedThe announcement of no fans on race day also means all on-track activity during the month of August, including practice and qualifications, will be closed to the public. The first practice will take place on Aug. 12.Fans who still have tickets to the 2020 Indy 500 will be credited for the 2021 race and retain their seniority and originally assigned seats.Additionally, as announced in July, the race will be broadcast live on TV in Central Indiana for the first time since 2016.State and city leaders react to Speedway's decisionIndiana Gov. Eric Holcomb issued a statement following the announcement thanking Penske and IMS leadership and encouraging Hoosiers to do what they can to prevent the spread of COVID-19. 3239

The Los Angeles Police Department says an investigation is underway after a man attacked and robbed three transgender women in Hollywood on Monday.KTLA-TV in Los Angeles said police are investigating the incident as a hate crime.Video of a portion of the assault was widely shared on social media. It shows the suspect assaulting the women and also demanding clothing and jewelry from them.According to the LAPD, the man went up to one of the victims with a metal bar and told her to give him her shoes and bracelet. He then grabbed her hand and walked with her for a short distance before she was able to escape.Later, police say the suspect attacked one of the woman's friends with a bottle, knocking her to the ground.The suspect also allegedly made derogatory remarks about the victims' sexual identity during the attack.LAPD shared a photo of the suspect in the hopes of tracking him down. 902

The outcome of the presidential election remained in doubt one day after polls closed throughout the United States.As of Wednesday afternoon, Democratic presidential nominee Joe Biden had a slight advantage over President Donald Trump in electoral college votes, but several key swing states had yet to be called.A candidate needs 270 electoral college votes in order to claim the presidency. As of Wednesday afternoon, Biden had 248 Electoral College votes to Trump's 214.Just as it did in 2016, the outcome of the race will likely hinge on the results of three states — Wisconsin, Michigan and Pennsylvania. As of Wednesday afternoon, the race in Michigan and Pennsylvania is too close to call. The Associated Press projects Biden will win Wisconsin, and its 10 electoral votes. Michigan (16 electoral votes) appears poised to offer close to a final count in the hours ahead. However, officials in Pennsylvania have cautioned that due to a high volume of mail-in votes, it may take several days to determine a winner of their 20 electoral votes.In 2016, Trump won Michigan, Pennsylvania and Wisconsin by about 100,000 combined votes.During a virtual press conference on Wednesday, the state's chief election official, Meagan Wolfe, said that nearly all jurisdictions have posted initial vote counts. That count will remain unofficial until the election is certified on Dec. 1.Trump campaign manager Bill Stepien said in a statement Wednesday that the President plans to request a recount in Wisconsin.According to Wisconsin law, a candidate can request a recount if the margin of victory is within 1%. Those recounts are held at the county level.The western swing state of Nevada (six electoral votes) also remained too close to call. Nevada won't resume counting ballots until Thursday morning, and still needs to tally mail ballots received on Election Day. The state expanded mail-in voting for the 2020 election and will also continue to count mail-in ballots for the next week.Finally, though the majority of votes have been counted in Georgia (16 electoral college votes) and North Carolina (15 votes), the margins remain razor-thin. Trump currently holds narrow leads in both states.The state of Alaska, whose polls closed at midnight ET, also remains too close to call, but polling has indicated that Trump is favored in the state.In a virtual press conference on Wednesday morning, Biden campaign manager Jen O'Malley Dillon said her campaign is "on track" to claim the presidency. She said the Biden campaign believes it will prevail in Michigan, Wisconsin and Nevada, citing large numbers of outstanding mail-in ballots, which tend to skew Democratic.Though Michigan, Nevada and Wisconsin are yet to be called, should Biden claim those three states, he would reach the threshold of 270 electoral college votes needed to clinch the presidency.The Biden campaign also decried Trump's decision to falsely declare victory in a White House speech early Wednesday morning. In a statement, Biden campaign manager Jen O'Malley Dillon called Trump's comments "outrageous, unprecedented and incorrect." 3113