Company: UAA
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001336917-25-000016
Chunk: 164

Company: Under Armour, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 8
Chunk 164
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$915,335 $(71,715)(7.8)%EMEA297,890 284,049 13,841 4.9 %Asia-Pacific201,112 212,018 (10,906)(5.1)%Latin America58,990 69,832 (10,842)(15.5)%Corporate Other (1)(573)4,809 (5,382)(111.9)%Total net revenues$1,401,039 $1,486,043 $(85,004)(5.7)%

(1) Corporate Other primarily includes foreign currency hedge gains and losses related to revenues generated by entities within our operating segments but managed through our central foreign exchange risk management program.

The decrease in total net revenues for the three months ended December 31, 2024, compared to the three months ended December 31, 2023, was driven by the following:

•Net revenues in our North America region decreased by $71.7 million, or 7.8%, to $843.6 million from $915.3 million. This was driven by a decrease in both our direct-to-consumer channel and licensing revenues, partially offset by an increase in our wholesale channel. Within our direct-to-consumer channel, net revenues decreased in both e-commerce and owned and operated retail stores.

•Net revenues in our EMEA region increased by $13.8 million, or 4.9%, to $297.9 million from $284.0 million. This was driven by an increase in both our wholesale channel and our direct-to-consumer 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 $10.9 million, or 5.1%, to $201.1 million from $212.0 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 decreased by $10.8 million, or 15.5%, to $59.0 million from $69.8 million. This was driven by a decrease in both our wholesale channel