Under Armour’s quarterly revenue slumps on lockdowns hit, Retail News, ET Retail

Athletic attire maker Under Armour Inc on Monday documented a 23% fall in quarterly revenue, as vendors across the entire world remained shut thanks to the COVID-19 pandemic.

The firm past thirty day period quickly laid off about 600 staff members at its U.S.-based mostly distribution facilities, prolonged keep closures and withdrew its forecast for the calendar year as the coronavirus disaster led to lockdowns across the place, limiting business only to on the internet functions.

Various retail and office outlets that promote Under Armour items have been also closed in the course of the ultimate months of the quarter.

“Our success in January and February have been monitoring well to our program. Because mid-March, as the pandemic accelerated significantly in North The usa and EMEA… we’ve seasoned a sizeable drop in revenue across all markets,” Main Government Officer Patrik Frisk said.

The Baltimore-based mostly firm documented a internet loss

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