Strong Gross Margin Performance
The fiscal third quarter results exceeded expectations, driven by strong gross margin performance with an increase of 240 basis points year-over-year to 47.5%.
Revenue Exceeding Forecasts
Revenue surpassed forecasts with a decline of 6% to $1.4 billion, which was better than the expected 10% decline.
EMEA Region Growth
Revenue in EMEA increased by 5% or 3% on a currency-neutral basis, with growth in DTC and full-priced wholesale business.
New Innovative Products Launched
Launch of the Curry Brand athlete De'Aaron Fox's first signature shoe, the Fox 1, which features patented flow sole technology.
Increase in Loyalty Membership
During the quarter, Under Armour gained 4 million new loyalty members in North America, raising the total to 17 million.
Improved Full-Year Outlook
Full-year revenue expectation improved to a decline of approximately 10%, better than the previous outlook of low-double-digit contraction.