Company: UAA
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001336917-25-000198
Chunk: 123

Company: Under Armour, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 123
---
 September 30, 2025 as compared to the three months ended September 30, 2024 include:

•Total net revenues decreased 4.7%. 

•Within our distribution channels, wholesale revenue decreased 6.2% and direct-to-consumer revenue decreased 2.2%. 

•Within our product categories, apparel revenue decreased 1.1%, footwear revenue decreased 15.7%, and accessories revenue decreased 2.8%.

•Net revenue decreased 8.3% in North America, increased 12.2% in EMEA, decreased 13.7% in Asia-Pacific and increased 14.6% in Latin America.

•Gross margin decreased 250 basis points to 47.3%. 

•Selling, general and administrative expenses increased 11.9%. 

2025 Restructuring Plan

During Fiscal 2025, our Board of Directors approved a restructuring plan designed to strengthen and support the Company's financial and operational efficiencies. The 2025 restructuring plan is expected to include up to $160 million of pre-tax restructuring and related charges, consisting of up to $90 million in cash-related charges, including approximately $30 million in employee severance and benefits costs and $60 million related to various transformational initiatives; and up to $70 million in non-cash charges, including approximately $7 million in employee severance and benefits costs and $63 million in facility, software, and other asset-related charges and impairments. The 2025 restructuring plan is expected to be substantially complete by the end of Fiscal 2026.

Restructuring and related charges recorded during the three and six months ended September 30, 2025 and September 30, 2024 were primarily North America related and are included within Corporate Other. The following table summarizes the costs recorded during the periods indicated, as well as the current estimate of remaining charges expected to be incurred in connection with the 2025 restructuring plan:

33

Three Months Ended September 30,Six Months Ended September 30,Estimated Charges Remaining to be Incurred(1)2025202420252024Costs recorded in restructuring charges: Employee-related costs $3,979 $1,393 $8,628 $11,738 Facility-related costs(2)21,947 4,457 28,258 12,495 Other restructuring costs5,980 (2,638)7,848 4,065 Total costs recorded