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Article Date: February 2024
Word Count: 594

Under Armour Raises Earnings Guidance despite Wholesale Headwinds


Net income declined 6% to $114,143,000 from $121,617,000 in the fiscal third quarter ended Dec. 31, and revenues were down by the same percentage, coming in at $1,486,095,000 against $1,581,781,000. Wholesale tumbled 13% to $711.7 million, concentrated in the full-price and distributor businesses, while sales to off-price expanded, accounting for 3% to 4% of revenue. Direct-to-consumer grew by 4% to $740.5 million, including +5% in stores and +2% online. The MyFitnessPal earn out payment was $49.6 million, up 5% from a year ago, but this is the final earn out payment ... Log in to view full article.

 


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