Falls in North America for Under Armour but growth elsewhere
Sports footwear and apparel group Under Armour has reported revenues of a little under $4.4 billion for the first nine months of its current financial year, the period to the end of December 2023.
This figure represents a fall of 3% compared to the same period a year earlier.
Revenue from apparel fell by 2.4% year on year to reach $2.9 billion. Sales of footwear brough in revenues of just over $1 billion for the group over the nine-month period. This represented a decline of 2.9%. Accessories made up the rest of group revenues, reaching $316.3 million, an increase of 1.1% year on year.
Sales were down by 7.6% in North America, reaching $2.7 billion, but there were increases in other markets. Revenues in Europe were up by 8.8% reaching almost $800 million. The figure for Asia was $646.3 million, up by 7.6%. There was an increase in Latin America of 4.6%, reaching just under $180 million.
“We are working to reset Under Armour toward a path of improved revenue growth and enhanced value-creation in the future,” said chief executive, Stephanie Linnartz.
Image: Under Armour.
