Under Armour (Baltimore) reported flat revenue of $1.4 billion compared to the prior year during its third quarter 2020 review, according to a press release.
"Our third-quarter results reflect considerably better than expected performance due to higher demand and our strong execution, especially in North America," said Under Armour President and CEO Patrik Frisk. "We believe that the critical mass of our transformational challenges is behind us, and we remain sharply focused on operational improvements and financial discipline.”
In a separate release, the retailer also announced a definitive agreement to sell the MyFitnessPal platform to private equity firm Francisco Partners. The transaction is valued at $345 million and is expected to close in the fourth quarter of this year.