Headlines

Under Armour Reports Q2 Earnings

Revenue down due to global pandemic-related store closings

Published

4 years ago

August 3, 2020

VMSD Staff

Athletics retailer Under Armour (Baltimore, Md.) reported financial results for its second quarter ending June 30, according to a press release. Revenue was down 41 percent to $708 million given that through May, approximately 80 percent of the locations where the brand could be purchased around the world were closed.

"With the majority of our own stores and wholesale locations closed for most of the second quarter due to the COVID-19 pandemic, while we performed better than expected, we still experienced a significant decline in revenue across all markets," said Under Armour President and CEO Patrik Frisk. "Now, with most of these doors reopened, we are encouraged by some of the momentum we've experienced in June and July.”

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