Under Armour saw its losses deepen during its third quarter, which it blamed on higher tariffs, pricing headwinds and turnaround costs.
The sports giant posted an operating loss of $150m (£110m) in the quarter to December 31, 2025. However, on an adjusted basis, excluding the transformation and restructuring changes, it posted an income of $26m (£19m).
Under Armour president and chief executive Kevin Plank said: “Our third-quarter adjusted operating results exceeded expectations, and despite a few unfortunate, non-recurring impacts, we’re encouraged by the progress we’re making in the business to reignite brand momentum.”
Sales for the group fell 5% to $1.3bn (£950m), with North American revenue down 10% to $757m (£553m) and international revenue up 3% to $577m ($421m).
By category, apparel sales dipped 3% to $934m (£682m), footwear dropped 12% to $265m (£193m) and accessories declined 3% to $108m (£78m).
Plank added: “In North America, we believe the December quarter marked the most challenging phase of our business reset and we expect greater stability ahead as we build on this progress globally.
“Our transformation is accelerating as we sharpen our focus and strengthen execution. Our strategy is gaining traction through better products, bolder storytelling and a more disciplined market presence, positioning Under Armour to operate with greater intention and confidence going forward.”
Looking ahead, Under Armour expects sales to fall 4% for the full year compared to its previous forecast of between 4% to 5%.
Its operating loss is expected to rise to $154m (£112m), up from its previous outlook of between $56m (£40m) and $71m (£51m). On an adjusted basis, operating income is expected to be $110m (£80m), compared to between $95m (£69m) and $110m (£80m) previously.
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