Under Armour posts Q1 net loss of 152 million dollars, sales down 23 percent

For its first quarter, Under Armour, Inc. reported revenue decrease of 23 percent or down 22 percent currency neutral to 930 million dollars, with approximately 15 percentage points of the decline related to Covid-19 pandemic impacts in the quarter. Wholesale revenue decreased 28 percent to 592 million dollars and direct-to-consumer revenue was down 14 percent to 284 million dollars, representing 31 percent of total revenue. The company said in a statement, net loss was 590 million dollars, while adjusted net loss was 152 million dollars and diluted loss per share was 1.30 dollars, while adjusted diluted loss per share was 34 cents.