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Under Armour (UAA) delivers cutting-edge athletic apparel and footwear designed to empower athletes worldwide. This dedicated news hub provides investors and industry observers with essential updates on corporate developments, product innovations, and market strategies.
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Under Armour (NYSE: UA, UAA) reported Q1 fiscal 2025 results, with revenue down 10% to $1.2 billion. The company saw declines across regions and categories, with North America revenue down 14% and international revenue down 2%. Gross margin improved by 110 basis points to 47.5%, driven by lower discounting and product costs. However, the company reported an operating loss of $300 million, largely due to a litigation reserve.
Under Armour updated its fiscal 2025 outlook, expecting revenue to decline at a low double-digit percentage rate. The company anticipates a gross margin improvement of 75 to 100 basis points and projects an adjusted operating income of $140 to $160 million. Under Armour also announced a $500 million stock repurchase plan, with $40 million already executed in Q1.
Under Armour (NYSE: UA, UAA) has announced the appointment of Eric Liedtke as Executive Vice President of Brand Strategy, following the acquisition of UNLESS COLLECTIVE, INC. Liedtke, a former adidas Group executive with a 26-year career, will join UA after the completion of the UNLESS acquisition later this week. He will be responsible for amplifying Under Armour's brand identity, strategic planning, and executing growth initiatives.
Liedtke's role will include overseeing UA's brand presence through various marketing functions and strategy. His experience in driving exceptional growth in the sports industry is expected to be a significant asset for Under Armour. The move aims to elevate the brand, enable deeper loyalty, and drive growth among new and existing consumers.
Under Armour (NYSE: UA, UAA) has announced its upcoming first quarter fiscal 2025 earnings conference call, scheduled for August 8, 2024. The company plans to release its financial results for the quarter ended June 30, 2024, at approximately 7:00 a.m. Eastern Time, followed by a conference call at 8:30 a.m. ET to review the results. Investors and interested parties can access the live webcast and archived recording of the call on Under Armour's investor relations website.
Under Armour, headquartered in Baltimore, Maryland, is a leading innovator and distributor of athletic performance apparel, footwear, and accessories. The company focuses on empowering human performance through its innovative products and experiences.
The University of Maryland and Under Armour have announced a 12-year extension of their partnership, continuing their collaboration through 2036. This renewal underscores their commitment to supporting student-athletes both on and off the field.
Under Armour, founded by Maryland alum Kevin Plank, has been the exclusive outfitter for Maryland's varsity teams since 2009. Since then, Maryland has won 19 National Championships and 49 Big Ten conference championships. The new agreement also expands Under Armour's support to club and intramural teams within the University's Department of Recreation and Wellness.
The partnership will also feature a new NIL Brand Ambassador Program, allowing student-athletes to earn compensation for promoting Under Armour products on social media. The collaboration will include marketing efforts and grassroots activations, aiming to enhance the student-athlete experience with innovative products.
USA Football and Under Armour have entered into a multi-year partnership through the 2028 Summer Olympics. Under Armour will serve as the Official and Exclusive Uniform, Apparel, and Footwear Partner of USA Football, including U.S. National Teams. This partnership aims to grow football participation by providing innovative gear and support from youth levels to the Olympics. Under Armour will outfit the first Olympic flag football team, marking the sport's debut in the 2028 Games. The collaboration will also support USA Football's growth initiatives and high-performance pathways for athletes and coaches. The partnership began with the recent training camp for the U.S. Men's and Women's Flag National Teams preparing for the IFAF's Flag Football World Championships.
Under Armour (NYSE: UA) reported its unaudited Q4 and full-year fiscal 2024 results, showing a 5% revenue drop to $1.3 billion for Q4, and a 3% decline to $5.7 billion for the full year. North America revenue fell 10% in Q4, while international revenue rose 7%. Gross margin increased 170 basis points to 45% in Q4, driven by lower product and freight costs. Net income for Q4 was $7 million, with adjusted net income at $49 million. For full-year fiscal 2024, net income was $232 million, with adjusted net income at $245 million. Under Armour announced a $500 million share repurchase program and a fiscal 2025 restructuring plan, anticipating a low-double-digit percentage revenue decline. This includes a 15-17% drop in North America and a low-single-digit decrease in international revenue, with expected operating income of $50 to $70 million.
Under Armour, Inc. (NYSE: UA, UAA) is set to announce its fourth quarter and full-year fiscal 2024 results on May 16, 2024. The conference call will be held at 8:30 a.m. ET following a news release at 6:55 a.m. ET. Under Armour is a leading company in athletic performance apparel, footwear, and accessories, aiming to enhance human performance through innovative products.
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