Under Armour Sales Down 4% as First-Quarter Losses Narrow

Under Armour continues to fall, although less so. The American fashion and sports equipment company closed the first quarter of the year with a drop in sales, in line with the negative performance with which it ended its last fiscal year. Despite the decline, the U.S. icon has managed to reverse much of the losses it posted at this time a year ago.

Specifically, the company closed the first three months (a period ending June 30) with a turnover of $1.134 billion, 4.1% less than in 2024. The sports company’s gross profit, meanwhile, fell from $562.6 million to $546.4 million.

The downward results follow the group’s poor performance in its last fiscal year, which ended at the end of March, when it posted an annual drop in turnover of up to 9.4%, and closed the year in the red. Although Under Armour remained in loss in the first quarter of the current fiscal year, the company has significantly reduced this figure: from losing $305.4 million in the first quarter of 2024, it now closes the same period with a loss of $2.6 million.

Under Armour has reduced its loss to $2.6 million in the first quarter

By markets, Europe, Africa and the Middle East was the only region in which the giant posted a positive business performance. Under Armour reported sales of $248.6 million in the region as a whole, up 9.6% on the previous year. In North America, on the other hand, the U.S. icon’s turnover fell by 5.5% to $670.3 million.

The worst declines, however, were in the company’s secondary markets. In Asia Pacific, Under Armour’s business fell by 10.1%, with a turnover at the end of the quarter of $163.3 million, while in Latin America the fall was 15.3%, with a final turnover of $54.5 million.

This decline occurred in the company’s two forms of distribution, although not in all product types. The company’s wholesale business, through which Under Armour has invoiced $649 million, has fallen by 4.6%, while direct sales to consumers have fallen slightly less, by 3.5%, to $463.4 million.

By product, accessories bucked the downward trend, posting sales of $100 million in the Under Armour business. The group’s sales of fashion, which fell by 1.5% to $746.6 million, and footwear, which fell by 14.3% to $265.8 million, were in the opposite direction.