Company: UAA
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001336917-25-000016
Chunk: 81

Company: Under Armour, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 81
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382 $(182,116)(7.6)%Direct-to-consumer672,948 740,466 (67,518)(9.1)%1,703,497 1,880,464 (176,967)(9.4)%Net Sales1,377,708 1,452,165 (74,457)(5.1)%3,914,763 4,273,846 (359,083)(8.4)%License revenues23,904 29,069 (5,165)(17.8)%70,371 82,787 (12,416)(15.0)%Corporate Other (1)(573)4,809 (5,382)(111.9)%(1,407)13,049 (14,456)(110.8)%    Total net revenues$1,401,039 $1,486,043 $(85,004)(5.7)%$3,983,727 $4,369,682 $(385,955)(8.8)%

(1) Corporate Other primarily includes foreign currency hedge gains and losses related to revenues generated by entities within our operating segments but managed through our central foreign exchange risk management program.

Net Sales

Net sales decreased by $74.5 million, or 5.1%, to $1,377.7 million during the three months ended December 31, 2024, from $1,452.2 million during the three months ended December 31, 2023. Apparel decreased primarily due to lower unit sales and unfavorable channel mix, partially offset by higher average selling prices. Footwear decreased primarily due to lower unit sales and lower average selling prices. Accessories increased primarily due to higher average selling prices and higher unit sales, partially offset by unfavorable channel mix. From a channel perspective, the decrease in net sales was due to a decrease in both wholesale and direct-to-consumer.

Net sales decreased by $359.1 million, or 8.4%, to $3,914.8 million during the nine months ended December 31, 2024, from $4,273.8 million during the nine months ended December 31, 2023. Apparel decreased primarily due to lower unit sales, partially offset by higher average selling prices. Footwear decreased primarily due to lower unit sales and lower average selling prices. Accessories increased primarily due to higher average selling prices, partially offset by unfavorable channel mix. From a channel perspective, the