“One year into our strategic reset, we’re laying the groundwork for a more focused Under Armour. By elevating products and storytelling, tightening distribution, and refining our operating model, we are in the process of reigniting brand relevance and positioning the business for sustainable, profitable growth”, commented Under Armour President and CEO Kevin Plank.

Fourth Quarter Results

In the fourth quarter of fiscal 2025, which ended on the 31^st of March, the company’s revenue fell by 11% (or 10% on a currency-neutral basis), as compared to the same period of last fiscal year, reaching 1.2 billion US dollars.

Under Armour reported a fourth quarter revenue decrease of 11% year-on-year to 689 million US dollars in North America and 13% (or 10% on a currency-neutral basis) year-on-year to 489 million US dollars internationally – including a 2% decrease (flat on a currency-neutral basis) in the EMEA region, a 27% decrease (or 26% on a currency-neutral basis) in Asia-Pacific region and a 10% decrease (or up by 3% on a currency-neutral basis) in Latin America.

From a distribution channel perspective, the company’s wholesale revenue from the fourth quarter declined by 10% year-on-year to 768 million US dollars. Direct-to-consumer (DTC) sales fell by 15% to 386 million US dollars, driven by a 6% drop in sales from owned and operated stores and a 27% decline in e-commerce sales, reflecting planned reductions in promotional activity.

In the final quarter of the last financial year, Under Armour’s gross margin increased by 170 basis points from the same period of the previous year to 46.7%. This was due to supply chain benefits, such as lower product and freight costs, reduced direct-to-consumer discounting and favourable impacts from product mix and foreign exchange, partially offset by an unfavourable channel and regional mix.

The US-based company reported an operating loss of 72.1 million US dollars and a net loss of 67.4 million US dollars in the fourth quarter of fiscal 2025, as compared to an operating loss of 3.5 million US dollars and a net income of 6.5 million US dollars in the same quarter of the previous year.

“Our fourth quarter performance contributed to fiscal 2025 results that were better than the expectations we set a year ago, and we are demonstrating traction in our efforts to reposition the brand”, added Plank.

Full Year Results

Under Armour recorded a 9% decrease in full year revenue on both a reported and currency-neutral basis, bringing it down to 5.2 billion US dollars, as compared to the 2024 financial year. The company also reported a net loss of 201.3 million US dollars, as compared to net income of 232.0 million US dollars the previous year.