Under Armour: a turnover of $4.47bn (-15%) and net loss of $549.1m in 2020

Under Armour posted a turnover of $4.474bn (€3.64bn on 31/12/2020) for the financial year 2020 hit by the Covid-19 pandemic, down 15% compared to 2019 ($5.26bn, €4.68bn at 31/12/2019), announced the American equipment manufacturer on 10/02/2021. The company founded in 1996 had previously recorded the highest turnover in its history in 2019.

Under Armour posted an operating loss of $613.33m (-€499.2m, versus $236.77m/€210.7m in 2019) and a net loss of €549.17m (€447m), compared with a profit of €92.13m (€82m) in 2019. Faced with lockdowns and shop closures in 2020, the American brand succeeded in boosting its direct online sales revenue (+40%).

The "apparel" category contributed $2.88bn (€2.34bn), or 64.4% of the total, ahead of the "footwear" ($934.3m, or 20.8% of the total) and "accessories" ($414m, or 9.2% of the total) categories.

Despite a 19.5% drop in revenues in North America during 2020, this territory remains Under Armour's number one commercial zone, with sales of $2.94bn (€2.39bn). The Asia-Pacific region experienced the smallest decrease in sales (-1.2%) and remains the…