Under Armour Revenue Falls 7% to $1.24 Billion as It Cuts Its Gross Margin Outlook
Under Armour, the Baltimore, Maryland-based sportswear company, on November 6, 2026, reported results for the second quarter of fiscal 2027, the three months ended September 30, 2026. Revenue was $1.242 billion, down 7 percent from a year earlier.
By region, North America revenue fell 7 percent to $737 million and international revenue fell 7 percent to $509 million, with EMEA down 9 percent, Asia-Pacific down 9 percent and Latin America up 3 percent. By channel, wholesale revenue fell 6 percent to $725 million and direct-to-consumer revenue fell 8 percent to $494 million, with eCommerce revenue down 12 percent. By category, apparel revenue fell 6 percent to $880 million, footwear fell 11 percent to $234 million and accessories fell 7 percent to $105 million.
Gross margin decreased 30 basis points to 47.0 percent, which the company attributed mainly to unfavorable foreign currency, channel and regional mix, and pricing. Operating income was $15 million, or $25 million on an adjusted basis. The net loss was $0.4 million, far narrower than the $18.8 million net loss a year earlier. Inventory rose 4 percent to $1.076 billion, and cash and cash equivalents totaled $285 million at quarter-end.
'We delivered against our revenue expectation and exceeded our operating income outlook,' said Kevin Plank, Under Armour's president and CEO. He said the company is driving greater efficiency across the business, sharpening its product offering and amplifying global marketing to strengthen the brand and improve financial performance as the transformation progresses.
For fiscal 2027, the company still expects revenue to decline at a mid-single-digit rate. It cut its gross margin improvement outlook to 170 to 220 basis points, from 220 to 270 basis points, citing higher fuel and freight costs, planned inventory actions and foreign exchange headwinds, including an estimated $45 million headwind from the conflict in the Middle East, partly offset by about $70 million in refunds of prior tariff costs. The operating income outlook was raised to $99 million to $119 million, from $96 million to $116 million, and adjusted diluted earnings per share are still expected at $0.08 to $0.12. (Source: Under Armour)
Source: Under Armour, Inc
Published by GSM · USA (original Chinese edition)
Photo: 图：位于 Baltimore 的 Under Armour 总部大楼。Fredlyfish4 摄，CC BY-SA 4.0，经 Wikimedia Commons。 / Photo: The Under Armour headquarters building in Baltimore. By Fredlyfish4, CC BY-SA 4.0, via Wikimedia Commons.
