Direct-to-consumer decline stunts Under Armour growth
03/08/2022
Sports brand Under Armour has reported revenues of $1.3 billion for the first quarter of its current financial year, the three-month period ending June 30, a 2% increase on the same period a year ago.
Wholesale revenue increased 3% to $792 million, but direct-to-consumer revenue decreased 7% to $521 million, with declines in its own-store revenues and in e-commerce.
Apparel revenue decreased 1% to $868 million. Footwear revenue increased 1% to $347 million.
Interim chief executive, Colin Browne, said Under Armour remained “bullish on our brand strength while we navigate the current environment”.
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