Company: UAA
Filing Date: 2025-05-22
Form Type: 10-K
Source: 0001336917-25-000078
Chunk: 79

Company: Under Armour, Inc.
Filing Date: 2025-05-22
Form: 10-K
Item: Item 2
Chunk 79
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ITEM 2. PROPERTIES

The following includes a summary of the principal properties that we own or lease as of March 31, 2025.

Company Operated

During Fiscal 2025, we moved our principal executive and administrative offices to an office complex that we own in the Baltimore Peninsula, an area of Baltimore, Maryland. We continue to own office space in Baltimore, Maryland, where our previous principal executive and administrative offices were located. We are currently evaluating potential options for this space. For each of our EMEA, Latin America and Asia-Pacific headquarters, we lease office space.

We lease our primary distribution facilities, which are located in Sparrows Point, Maryland, Mount Juliet, Tennessee and Rialto, California. Combined, these facilities represent approximately 3.5 million square feet of facility space. These leases expire at various dates, with the earliest lease termination date occurring in December 2027. However, as previously disclosed, we have made the decision to exit our distribution facility located in Rialto, California, by March 2026, as part of our 2025 restructuring plan. We believe our distribution facilities and space available through our third-party logistics providers, described below, will be adequate to meet our short term needs. 

As of March 31, 2025, we leased 441 Brand and Factory House retail stores located primarily in the United States, China, Canada, Mexico, the United Kingdom, South Korea, Australia, and Thailand with lease termination dates occurring through 2038. We also lease additional office space for sales, quality assurance and sourcing, marketing and administrative functions. We anticipate that we will be able to extend these leases that expire in the near future on satisfactory terms or relocate to other locations.

Third-Party Operated

We partner with third-party logistics providers who operate distribution centers in international markets including Canada, Mexico, Panama, the United Kingdom, Netherlands, Hong Kong and China.