Company: UAA
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001336917-25-000016
Chunk: 18

Company: Under Armour, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 2
Chunk 18
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•Net revenues in our EMEA region increased by $10.2 million, or 1.3%, to $808.0 million from $797.8 million. This was driven by an increase in our direct-to-consumer channel, partially offset by a decrease in our wholesale channel. Within our direct-to-consumer channel, net revenues increased in both owned and operated retail stores and e-commerce. Net revenues in our EMEA region were also positively impacted by changes in foreign exchange rates.

•Net revenues in our Asia-Pacific region decreased by $55.7 million, or 8.6%, to $590.6 million from $646.3 million. This was driven by a decrease in both our wholesale channel and our direct-to-consumer channel, partially offset by an increase in licensing revenues. Within our direct-to-consumer channel, net revenues decreased in both e-commerce and owned and operated retail stores. 

•Net revenues in our Latin America region decreased by $8.9 million, or 5.0%, to $170.3 million from $179.2 million. This was driven by a decrease in both our wholesale channel and our direct-to-consumer channel, partially offset by an increase in licensing revenues. Within our direct-to-consumer channel, net revenues decreased in e-commerce and were relatively flat in owned and operated retail stores. Net revenues in our Latin America region were also negatively impacted by changes in foreign exchange rates.

•Net revenues in our Corporate Other non-operating segment decreased by $14.5 million to $(1.4) million from $13.0 million. This was primarily driven by lower foreign currency hedge gains related to revenues generated by entities within our operating segments.

Operating Income (Loss)

Nine Months Ended December 31,(In thousands)20242023Change ($)Change (%)North America$529,216 $538,041 $(8,825)(1.6)%EMEA114,161 117,738 (3,577)(3.0)%Asia-Pacific58,158 86,020 (27,862)(32.4)%Latin America41,528 32,759 8,769 26.8 %Corporate Other (1)(856,202)(541,253)(314,949)(58.2)%Total operating income (loss)$(113,139)$233,305 $(346,444)(148.5)%

(1) Corporate Other primarily includes foreign currency hedge gains and losses related to