Company: UAA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001336917-25-000136
Chunk: 115

Company: Under Armour, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 115
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 across both our wholesale and direct-to-consumer channels.

Financial highlights for the three months ended June 30, 2025 as compared to the three months ended June 30, 2024 include:

•Total net revenues decreased 4.2%. 

•Within our distribution channels, wholesale revenue decreased 4.6% and direct-to-consumer revenue decreased 3.5%. 

•Within our product categories, apparel revenue decreased 1.5%, footwear revenue decreased 14.3%, and accessories revenue increased 8.1%.

•Net revenue decreased 5.5% in North America, increased 9.6% in EMEA, decreased 10.1% in Asia-Pacific and decreased 15.3% in Latin America.

•Gross margin increased 70 basis points to 48.2%. 

•Selling, general and administrative expenses decreased 36.7%. 

28

2025 Restructuring Plan

During Fiscal 2025, our Board of Directors approved the 2025 restructuring plan, designed to strengthen and support our financial and operational efficiencies. The 2025 restructuring plan is expected to range between $140 million to $160 million of pre-tax restructuring and related charges, including (i) up to $90 million in cash-related charges, consisting of approximately $27 million in employee severance and benefits costs and $63 million related to various transformational initiatives; and (ii) 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 are included in our Corporate Other non-operating segment. 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:

Three Months Ended June 30,Estimated Charges Remaining to be Incurred(1)20252024Costs recorded in restructuring charges: Employee-related costs $4,649 $10,345 Facility-related costs6,311 8,038 Other restructuring costs1,868 6,703 Total costs recorded in restructuring charges$12,828 $25,086 $30,203 Costs recorded in selling, general and administrative expenses:Employee related costs—