Company: UAA
Filing Date: 2025-05-22
Form Type: 10-K
Source: 0001336917-25-000078
Chunk: 42

Company: Under Armour, Inc.
Filing Date: 2025-05-22
Form: 10-K
Item: Item 1
Chunk 42
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 the Consolidated Financial Statements, included in Part II, Item 8 of this Annual Report on Form 10-K, for net revenues by segment. 

Corporate Other consists primarily of (i) general and administrative expenses not allocated to an operating segment, including expenses associated with centrally managed departments such as global marketing, global information technology, global supply chain and innovation, and other corporate support functions; (ii) restructuring and restructuring related charges, if any; (iii) certain foreign currency hedge gains and losses; and (iv) operating results related to our MapMyFitness digital platform, which was sold during the second quarter of Fiscal 2025. 

Our North America segment accounted for approximately 60% of our net revenues for Fiscal 2025, while our EMEA, Asia-Pacific and Latin America segments combined represented approximately 40%. Net revenues 

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generated from the sales of our products in the United States were $2.8 billion for Fiscal 2025. No single customer accounted for more than 10% of the Company's net revenues for Fiscal 2025.

North America

We sell our apparel, footwear and accessories in North America through wholesale and direct-to-consumer channels. We also earn license revenues in North America based on our licensees' sales of collegiate apparel and accessories, as well as other licensed products.

Our direct-to-consumer sales are generated through our Brand and Factory House stores and e-commerce website. As of March 31, 2025, in North America, we had 180 Factory House stores primarily located in outlet centers and 15 Brand House stores throughout the United States and Canada. Consumers can also purchase our products directly from our e-commerce website. 

We currently distribute the majority of our products to our North American wholesale customers and our own retail stores and e-commerce channels from distribution facilities we lease and operate in California, Maryland and Tennessee. As previously disclosed, in September 2024, we announced our decision to exit our distribution facility in Rialto, California as part of our 2025 restructuring plan. Refer to Note 13 to our Consolidated Financial Statements, included in Part II, Item 8 of this Annual Report on Form 10-K, for additional information. We also distribute our products in Canada through a third-party logistics provider. In some instances, we arrange to have products shipped directly to customer-designated facilities from the factories that manufacture our products.

EMEA

We sell our apparel, footwear and accessories in EMEA primarily through wholesale customers and independent distributors, along with e-commerce websites