Under Armor, Inc., started the new financial year with a decline in sales of four percent. The US company also had a net loss in the first quarter.
According to the quarterly report published on Friday, sales amount to $ 1.1 billion (944.3 million euros). The EMEA region is the only one in which the company did not record a decline. Here sales rose by ten percent.
In May 2024, the company announced a restructuring, which is now also reflected in restructuring costs. These amount to a total of $ 13 million. The bottom line is that this results in a net loss of three million US dollars.
If the influence of the restructuring costs is calculated, an improvement in the operational result is shown. In the first quarter of the previous year, operational profit was eight million US dollars; Within a year, this rose to $ 24 million.
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