THE RETAIL BULLETIN - The home of retail news
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
People in Retail Awards 2023
Retail Marketplace Strategy 2023
Omnichannel Futures 2023
Retail HR Central
Digital Transformation Strategy 2023
Customer Engagement Strategy 2023
Retail HR 2023
THE Retail Conference 2023
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Under Armour posts quarterly loss

Under Armour has seen its revenue climb by by 3% to $1.3 billion compared to the prior year in its transition quarter ending 31 March. However…. View Article

SPORTS & LEISURE

Under Armour posts quarterly loss

Under Armour has seen its revenue climb by by 3% to $1.3 billion compared to the prior year in its transition quarter ending 31 March.

However. the athletic performance brand posted a net loss of $60 million and an adjusted net loss of $3 million.

Direct-to-consumer revenue increased by 1% to $441 million, driven by 2% growth in online sales. Meanwhile, wholesale revenue rose by 4% to $829 million, although owned and operated store revenue growth was flat during the quarter.

Looking at the brand’s different territories, North America revenue increased by 4% and EMEA revenue rose by 18%. Meanwhile. revenue in the Asia-Pacific region and Latin America decreased by 14% and 6% respectively.

Under Armour president and chief executive Patrik Frisk said: “Having successfully executed a multi-year transformation and after delivering a record year in 2021 – we are continuing to serve the needs of athletes amid an increasingly more uncertain marketplace,

“As global supply challenges and emergent Covid-19 impacts in China eventually normalize, we are confident that the strength of the Under Armour brand coupled with our powerful growth strategy positions us well to deliver sustainable, profitable returns to shareholders over the long-term.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News