• Loading stock data...
Saturday, March 2, 2024

Under Armour Reports $1.53B In Q4 Revenue

Under-Armour
Under Armour/Design: Alex Brooks

Under Armour reported a 9% increase in fourth-quarter revenue to $1.53 billion, beating analysts’ estimates of $1.47 billion.

The sports apparel company previously stated its goals to become a more premium label — similar to Nike and Lululemon — and CEO Patrik Frisk said he’s confident that “we are running a stronger company — one that is able to deliver sustainable, profitable growth and value creation for our shareholders over the long term.”

With a net income of $109.7 million, Under Armour saw revenue increases across the globe during the quarter, with help from higher prices of hoodies and leggings.

  • North American revenue jumped 15% to $1.1 billion, with international revenue growing 3% to $461 million.
  • Despite accessories sales falling 27% to $107 million, apparel grew 18% to $1.1 billion, and footwear ballooned 17% to $283 million.
  • E-commerce sales jumped 4% year-over-year.

Under Armour raised its outlook, too, with sales expected to move from a low-single-digit increase to a mid-single-digit increase. The company will unveil a more detailed outlook in May.

Supply Chain Challenges

Similar to its rivals, Under Armour said that the company’s profit in the near future will be affected by the hike in freight and shipping expenses, and it was forced to reduce its order for this spring and summer due to COVID-19 outbreaks and employee shortages.

Chief Financial Officer David Bergman called the supply chain issues a “temporary speed bump.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Sponsored

How Daily Fantasy Sports Solved NBA Fantasy

New Horizons in Sports How Daily Fantasy Sports Solved NBA Fantasy Presented…
Sponsored

Live Sports Are Now High-Tech Experiences

Oracle is leading the technology revolution happening in stadiums across the world.
Sponsored

NASCAR Capitalizes on the Sportswear Boom in a New Deal With ’47

With the new partnership between ’47 and NASCAR, racing fans can express their love like never before.
Sponsored

How Cisco and the NFL Are Shaping a More Inclusive Future

The NFL and Cisco partner to launch the NFL IT Apprenticeship Program.
podcast thumbnail mobile
Front Office Sports Today

Jenny Cavnar is Breaking Barriers During Oakland’s Strange Season

0:00
0:00

Featured Today

Sheer Madness: What You Need to Know About MLB’s New Uniform Saga

MLB’s reworked uniforms have become a major source of spring training controversy.
Oct 5, 2021; Kansas City, Missouri, USA; Bob Kendrick, president of the Negro Leagues Baseball Museum in Kansas City, points to the lettering outside of the museum Tuesday.
February 28, 2024

How Do You Keep Negro Leagues Baseball History Alive? Put It in a Video Game

Negro Leagues Baseball Museum attracting increased donations, visits from ‘MLB The Show.’
February 26, 2024

The Victor Wembanyama Rookie Card Market Hasn’t Matched His Hype

A cooling market and Fanatics autograph deal leaves big-money collectors waiting.
February 25, 2024

Sham Gods: The Rapidly Growing World of Sports Impersonators on X

Fake Schefters and Wojs, fabricated trade demands, and borrowed profile pictures.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Spotify
Multiple - USA Careers
Nike
Multiple - USA Careers
EA
Multiple - USA Careers

Peloton To Bring Live Sports To Its Fitness Devices

NBA League Pass will be available to watch on Peloton devices.
Nike's group fitness studios follow its Netflix workout streaming deal.
August 3, 2023

Nike Leans Into In-Person Fitness As Lululemon Cuts Back

With fitness classes already on Netflix, Nike now plans in-person studios.
August 10, 2023

Alternative Golf Venues Thriving ‘Off-Course’ By Attracting Younger Players

In 2022, 15.5 million people participated in off-course golf activities. 
Sponsored

How LivePass is Redefining Ticketing for the Next Generation of Fans

The next wave of ticketing technology.
UBS estimates that pickleball injuries have cost Americans $377 million this year.
June 27, 2023

Pickleball Injuries Could Cost U.S. Nearly $400 Million Per Year

UBS estimates that pickleball injuries have cost Americans $377 million this year.
Harry Kane joins Dak Prescott and Dustin Johnson as investors in OxeFit.
June 1, 2023

Harry Kane Invests in OxeFit, Fitness Startup Reaches $45 Million in Funding

Harry Kane joins Dak Prescott and Dustin Johnson as investors in OxeFit.
The huupe "smart" basketball hoop in a gym.
May 23, 2023

Can Basketball Hoops Become Part of the Smart Gym Ecosystem?

Huupe is selling its product to professional and college basketball teams.
Peloton is recalling 2.2. million bikes.
May 11, 2023

Peloton Recalls 2.2 Million Bikes Following Injuries

Peloton is recalling 2.2. million bikes.