You are correct, for now...but nearly every other retail company is missing this Q, including some hot tech companies. I was out of UA, but am now back in at $52 and change. I like my odds from here. Unless, of course, the US goes into recession again over lack of leadership in Washington.
Expectations were too high for the quarter and anything short of smashing revenue and earnings while raising guidance (like Q2) would end up as a down day. I actually sold last week for tax purposes, but will likely buy back in within the next few weeks/months as things re-normalize.