From CNBC:

Under Armour reported slower sales for the holiday quarter, but its earnings beat estimates due to cost-cutting measures. The revenue dropped 6% due to soft demand and wholesale slowdown in North America, but gross margin increased. The company raised full-year expectations for gross margin and earnings. Shares were up 3% in morning trading.

For the third fiscal quarter, Under Armour’s earnings per share were 19 cents adjusted, versus the 11 cents expected, with revenue of $1.49 billion versus $1.50 billion expected. The company’s net income was $114.1 million. For the full fiscal year, Under Armour is projecting sales to fall by 3% to 4%, and EPS between 57 and 59 cents.

Despite a mixed retail environment, Under Armour remains on track to achieve its full-year outlook. Wholesale revenue dropped 13%, while direct sales rose 4% to $741 million, driven by a 5% uptick in store revenue and a 2% jump in digital sales. The full earnings release can be found on the company’s website.



Read more: Under Armour (UAA) earnings Q3 2024