• Loading stock data...
Saturday, July 19, 2025

Under Armour Falls Below $1 Billion in Quarterly Revenue as Sales Drop

  • The apparel company’s losses were better than projected, as it got a boost in e-commerce sales.
  • Amid the pandemic, Under Armour has tried to get out of its costly deals with UCLA and Cal.
Under Armour Falls Below $1 Billion in Quarterly Revenue as Sales Drop 41%
Photo Credit: Joe Camporeale-USA TODAY Sports

Under Armour released its second quarter earnings results Friday, which took the brunt of pandemic-induced shutdowns. The Baltimore-based apparel and footwear company also projected further steep losses for the second half of 2020.

With most of its stores closed, sales dropped 41% to $707.6 million — a year ago, sales were $1.19 billion. Specifically, apparel sales were down 42%, to $426 million; footwear revenue dropped 35%, to $185 million; and accessories revenue fell 47%, to $56 million. 

The company surpassed $1 billion in sales in a single quarter for the first time in the third quarter of 2015, shortly after it signed on to sponsor Steph Curry through the 2024 season.

Under Armour estimated that about 80% of stores where its products are for sale, including its own, were closed. The revenue drop was actually less than expected, thanks to a boost in online sales. 

The company reported a $131 million operating loss for the quarter. 

During its earnings call, the company said it expects revenue to fall by 20-25% over the rest of the calendar year, with an even sharper decline in the fourth quarter. CFO David Bergman also warned that as a result of the company shrinking its inventories, there’s a chance it won’t have “adequate supply to meet demand” as the year goes on. 

“We remain appropriately cautious with respect to the balance of 2020 due to continued uncertainty related to consumer shopping dynamics, the potential for a highly promotional environment and proactive decisions to reduce inventory purchases to be more aligned with anticipated demand related to ongoing COVID-19 impacts,” CEO Patrik Frisk said in a statement.

The company’s results are in line with those of competitors like Nike, who said its sales fell 38% in its most recent report. 

Amid the down quarter, Under Armour has made headlines for trying to cancel its high-profile endorsement deal with UCLA, and another with Cal. The company set a record with its 15-year, $280 million contract with the Bruins and signed the Bears to a 10-year, $86 million deal in 2016. 

Its other college partners include Auburn, Boston College, Cincinnati, Colorado State, Hawaii, Maryland, Navy, Northwestern, Notre Dame, South Carolina, Temple, Texas Tech, Utah, and Wisconsin.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

WNBA

Portland WNBA Team Will Be Fire, Bigger Choices Loom

The WNBA’s 15th franchise is bringing back the Fire.
A Lululemon store at Freehold Raceway Mall in Freehold Township, New Jersey on Nov. 30, 2023

Sportswear Stocks Rise as Trump Touts Vietnam Trade Deal

Tariffs on Vietnam imports will be 20%, down from a prior threat of 46%.
From vintage to unique collaborations, various Nike and Jordan shoes are displayed on a wall at Saved Soles inside West Ridge Mall.

Nike Stumbles Less Than Expected, Giving Wall Street Hope

The sports apparel and footwear giant beats Wall Street expectations.

Featured Today

Ryan Field Construction
exclusive

First Look Inside Northwestern’s $862 Million New Ryan Field

Five big things FOS learned on our exclusive stadium tour.
Jul 21, 2024; Ayrshire, SCT; Xander Schauffele celebrates with Claret Jug after winning the Open Championship golf tournament at Royal Troon.
July 17, 2025

The Boozy History and Traditions of The Open’s Claret Jug

The Open awards the world’s most famous wine decanter.
2025 PDC World Darts Championship Final - Luke Littler vs Michael Van Gerwen
July 16, 2025

A Teen Darts Prodigy Is Becoming Bigger Than the Game Itself

Luke ‘The Nuke’ Littler is cashing in on his devastatingly accurate shot.
May 31, 2025; Philadelphia, PA, USA; Sydney McLaughin-Levrone (USA) reacts before the women's 100m hurdles during the Grand Slam Track Philadelphia at Franklin Field
exclusive
July 13, 2025

Track’s New Money Is Running Into Old Problems

The sport’s big-money era has hit some speed bumps in 2025.
Jonathan Mariner

Former MLB CFO Jumps to PE, Says Teams Are Undervalued

Mariner worked in Major League Baseball for 24 years.
March 20, 2025

Nike Struggles Continue, but Signs of Turnaround Appear

The embattled company beats tepid expectations in both revenue and earnings.
James Harden
April 24, 2025

Adidas Posts Big Profits in First Quarter Without Yeezy

Profits and sales are up after selling off remaining Yeezys last year.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
Oracle Park
March 18, 2025

S.F. Giants Selling Stake to Private Equity to Pay for Facility Upgrades

The team said the cash would not be used to grow payroll.
Aug 11, 2024; Paris, France; Medals are carried out on Louis Vuitton trays after the women's volleyball gold medal match during the Paris 2024 Olympic Summer Games at South Paris Arena
February 16, 2025

LVMH’s New Push: World’s Most Powerful Luxury Group Is Coming for Sports

LVMH is making long-term deals—and they’re not done.
February 14, 2025

DraftKings Turns First Full-Year Profit, Stock Up 47% in 2025

The company’s sports betting business continues to grow despite headwinds.
Billie Jean King
February 13, 2025

Billie Jean King: ‘Billionaires, Not Millionaires’ Are Fueling Women’s Sports Boom

Billie Jean King wants more women involved in team ownership, too.