Under Armour Sees Double-Digit Decline in the First Quarter
Under Armour's (NYSE: UA)(NYSE: UAA) woes continued in the company's first quarter of 2020 with double-digit revenue decreases. However, the company was prepared for it, and is showing optimism as it plows through with its restructuring program.
Under Armour has been experiencing declines in its North American business and this quarter was no exception. North American sales were down 28% while international sales were 12% lower year over year. Total revenue decreased 23% (22% on a currency-neutral basis) to $930 million, with about 15 percentage points of the decline related to COVID-19.
Image source: Under Armour.
Source Fool.com
