Under Armour: a turnover of $5.903bn (+3%) & a net loss of $368.8m in 2023

Under Armour has posted a turnover of $5.903bn (€5.35bn) for the financial year 2023 (from 01/04/2022 to 31/03/2023), up 3% compared to 2022 ($5.727bn/€5.26bn), announced the American equipment manufacturer on 09/05/2023.

The brand reported an operating loss of -$283.8m (-€261.4m, compared with -$333.4m/€306.5m in 2022) and a net loss of $386.8m (€350.7m), compared with a deficit of $222.7m (€204.7m) in 2022.

"Wholesale revenue increased 6% to $3.5bn (€3.2bn), and direct-to-consumer revenue decreased 3% to $2.3bn (€2.1bn) due to a 6% decline in owned and operated store revenue partially offset by a 3% increase in eCommerce revenue, which represented 42% of the total direct-to-consumer business for the year," said Under Armour.

The "apparel" category accounted for 65.6% of the brand's total sales ($3.871bn/€3.56bn), ahead of the "footwear" ($1.455bn/€1.3bn, or 24.6% of the total) and "accessories" ($408.5m/€375.5m, or 6.9% of sales) categories. Only the "footwear" category increased in 2023 (+16.3%), while the "apparel" and "accessories" categories decreased by 0.9% and 7.4…