(CercleFinance.com) – Under Armor reported on Friday a net loss of $60 million for the past quarter, a period of ‘transition’ which will not be attached to any fiscal year from an accounting point of view.
The American manufacturer of sporting goods – which made the decision to start its fiscal year on April 1 and no longer on January 1 – explains that the quarter was burdened by $ 57 million in restructuring charges and provisions for impairment.
The Baltimore (Maryland) group – which refers to an environment marked by supply difficulties and the return of containment measures in China – explains that its gross margin fell by 3.5 points to 46.5 points. year on year, mainly as a result of higher transport costs.
Its quarterly revenue over the period increased by 3% to $1.3 billion, driven by a 4% increase in wholesale activity and a 4% gain in sales in North America. North.
For its new 2022/2023 fiscal year, which therefore began on April 1, Under Armor says it expects a decline of 150 to 200 basis points in its gross margin due to inflationary pressures, an unfavorable mix in its distribution channels and negative effects in terms of exchange rates.
Following these announcements, the action fell by more than 17% in pre-market electronic transactions.
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