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Under Armour, Inc. (symbol: UA) is an American sports equipment company renowned for manufacturing high-quality footwear, sports, and casual apparel. Founded in 1996 and headquartered in Baltimore, Maryland, Under Armour develops, markets, and distributes athletic apparel, footwear, and accessories across North America, Asia-Pacific, Europe, and other regions. It serves a diverse range of consumers, including professional and amateur athletes, sponsored college and professional teams, and individuals leading active lifestyles.
Under Armour's products are available through various channels, including wholesale channels such as national and regional sporting goods chains, independent and specialty retailers, department store chains, and mono-branded Under Armour retail stores. Additionally, the company operates direct-to-consumer sales through e-commerce platforms and more than 400 combined factory house and brand house stores. Under Armour also runs a digital fitness app, MapMyFitness, enhancing its digital presence and consumer engagement.
The company's innovative product line focuses on performance-driven clothing and shoes designed to empower athletes. Under Armour's recent achievements include signing Sacramento Kings Point Guard De'Aaron Fox as the first signature athlete with Curry Brand, alongside Stephen Curry. This partnership aims to expand Curry Brand's influence in the basketball space and beyond, promoting innovative footwear and apparel. Additionally, Under Armour has reported robust financial performance in its recent fiscal quarters, including significant stock buybacks to enhance shareholder value.
Under Armour's commitment to innovation, high-performance products, and strategic partnerships solidifies its position as a leading brand in the sportswear industry. The company's dedication to empowering athletes and fostering community engagement through initiatives like UA Next programs and Curry Camp reinforces its mission to make a positive impact on and off the field.
Under Armour, Inc. (NYSE: UA, UAA) will announce its fourth quarter and full-year fiscal 2023 results on May 9, 2023, at 6:55 a.m. ET. The results will cover the period ending on March 31, 2023. Following the announcement, management will host a live conference call at approximately 8:30 a.m. ET to discuss the financial outcomes. The call will be available for live streaming and will be archived for later access. Under Armour is recognized for its innovation in athletic performance apparel, footwear, and accessories, aiming to enhance human performance. For more detailed financial information, visit their investor relations page.
Under Armour has renewed its partnership with Stephen Curry, enhancing their collaboration to drive global business growth and community impact. This partnership focuses on innovative product solutions across various sports categories and aims to broaden Curry Brand's reach. Curry will take on the role of President of Curry Brand, amplifying his influence on product development and marketing strategies. The initiative also includes increased funding for community programs, striving to renovate courts and train coaches by 2025. The commitment expressed by both parties underscores their shared vision for athlete empowerment and community support.
Under Armour, Inc. reported third-quarter fiscal 2023 results, highlighting a 3% revenue increase to $1.6 billion (7% currency neutral). Wholesale revenue rose 7% to $820 million, while direct-to-consumer fell 1% to $715 million. North America revenue decreased by 2% to $1 billion, but international revenue surged by 14% to $527 million. Gross margin declined by 650 basis points to 44.2%. Net income was $122 million, with diluted EPS at $0.27. The company continues a share repurchase program, having bought back 35 million shares for $425 million. The fiscal 2023 outlook remains stable with expected diluted EPS between $0.71 and $0.75.
Under Armour (NYSE: UA, UAA) announces the appointment of Carolyn Everson and Patrick Whitesell to its Board of Directors, effective February 1, 2023. Harvey Sanders, a long-standing board member, is set to retire on March 31, 2023. Everson brings extensive experience from roles at Instacart and Meta Platforms, while Whitesell has a background in sports and entertainment as Executive Chairman of Endeavor Group Holdings. Under Armour's Executive Chair, Kevin Plank, expressed optimism about these additions, highlighting their potential to enhance the company’s global brand and digital growth.
Under Armour, Inc. (NYSE: UA, UAA) is set to release its third quarter fiscal 2023 results on February 8, 2023, at 6:55 a.m. ET. The report will cover the period ending December 31, 2022. Following the release, a conference call will be hosted by Under Armour management at approximately 8:30 a.m. ET to discuss the earnings results. Investors can access the live webcast and archived information via the company's financial page.
Under Armour, headquartered in Baltimore, Maryland, specializes in branded athletic performance apparel, footwear, and accessories, designed to enhance human performance.
Under Armour announced the appointment of Stephanie Linnartz as President and CEO, effective February 27, 2023. Previously the president of Marriott International, Linnartz is recognized for her strategic leadership in digital transformation and brand growth. Under Armour's Executive Chair, Kevin Plank, expressed confidence in her ability to enhance the company's market opportunities. Following her appointment, Colin Browne, the interim CEO since June 2022, will transition back to his role as COO, continuing to support the leadership team.
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