Under Armour's Profits Plummet 96% in Q4 Amid Declining North America Sales - video Dailymotion

7 months ago

Under Armour reported a 96% drop in profits during its fiscal fourth quarter compared to the same period last year. The company's revenue declined 5% year-over-year for the quarter, and sales in Under Armour's largest market, North America, plunged 10%. The athletic apparel retailer expects sales in North America to drop even more sharply for the full 2024 fiscal year. The company is implementing a broad restructuring plan that will include an unspecified number of job cuts. Under Armour's CEO Kevin Plank blamed "lower wholesale channel demand and inconsistent execution" for the weak results.

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00:00 It's Benzinga and here's what's on the block.

00:02 Under Armour reported a 96% drop in profits during its fiscal fourth quarter compared to

00:07 the same period last year. The company's revenue declined 5% year over year for the quarter and

00:12 sales in Under Armour's largest market, North America, plunged by 10%. The athletic apparel

00:17 retailer expects sales in North America to drop even more sharply for the full 2024 fiscal year.

00:22 The company is implementing a broad restructuring plan that will include an unspecified number of

00:27 job cuts. Under Armour CEO Kevin Plank blamed lower wholesale channel demand and inconsistent

00:32 execution for the weak results. For all things money visit Benzinga.com

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