May 06, 2022
Net income attributable to shareholders slipped 14% in the first quarter to €482 million ($551 mm) from €558 million, on revenues that inched up 1% (-3% constant currency) to €5,302 million ($6,059 mm) against €5,268 million last year, pulled down by double-digit declines in Greater China and Asia-Pacific.
Under Armour, despite all its efforts to reshape and fortify its premium-focused business since a 2020 restructuring under president and CEO Patrik Frisk, is facing short-term issues that will impact its sales, profitability, and margins for much of 2022.
Net income from continuing operations at the Brazilian footwear company slipped 24% to BRL 112,117,000 ($21.4 mm) from BRL 148,454,000 on a 9% net sales increase to BRL 927,205,000 ($176.8 mm) from BRL 850,457,000.
Peloton Interactive is reportedly looking for a suitor to take a minority stake of 15% in the fitness company that is now headed by former Netflix and Spotify executive Barry McCarthy.
USB has acquired the U.S. operations of Pearl Izumi from Shimano North America, and will add the cycling apparel and accessories brand to its portfolio that includes Shock Doctor, McDavid, Cutters, Nathan, and Glukos.