Under Armour is facing long-term problems.

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UA Under Armour-C

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Under Armour is not out of the woods yet.

The company, whose stock has tumbled 30% so far this year, reported its first-ever operating loss in the first quarter of 2017.

Analysts following the company have been a bit harsh on the company, mostly criticizing the company for missing athletic apparel’s shift to more fashionable clothing.

Giving Under Armour a “neutral” rating, analyst Christopher Svezia wrote that the company’s more technical clothing offerings were out of step with the lifestyle products desired by consumers and that as a result its “ability to return to its former glory is unknown.”

Apparel and footwear created with a lifestyle focus make up less than 5% of Under Armour’s total sales, according to Svezia, though the company has been taking steps to offer more options in that category. Svezia says missing the trend has Under Armour playing a high-stakes game of catch-up.

“It will take years for the category to have a measurable impact to the company with potential starts and stops along the way as lifestyle requires more trial and error and sample testing than core basic technical gear,” he said.

The company has previously acknowledged that it misread the upmarket trend of athleisure, instead relying on copious logos and basic…