Under Armour North America Sales Fall 12 Percent in Fiscal Q3

February 8, 2024

Under Armour, Inc. saw fiscal third quarter net sales slide 6.0 percent, or 7 percent in currency-neutral (CN) terms, to $1.49 billion in the period ended December 31.

Gross margin increased 100 basis points to 45.2 percent of sales, said to be driven primarily by supply chain benefits related to lower freight expenses, partially offset by proactive inventory management actions, including a higher percentage of sales to the off-price channel and increased promotional activities in our direct-to-consumer business.

SG&A expenses were reportedly flat year-over-year at $602 million, including a $23 million litigation reserve expense. Adjusted SG&A expenses were down 4 percent to $579 million. SGB Media