(CercleFinance.com) – The American sports equipment manufacturer Under Armor maintained its annual objectives on Tuesday despite a contraction in its turnover and its profit margins over the past quarter, against a backdrop of a difficult environment in the sector. consumption in North America.
The Baltimore group reported a 2% drop in sales for the three months to the end of June, to $1.3 billion, including a 9% decline in North America.
Under Armor said its gross margin fell 60 basis points to 46.1%, driven by greater use of promotional offers.
Net profit rose to $8.5 million from $7.7 million a year earlier, thanks to a reduction in its costs.
For the current financial year, the group now says it expects stable annual turnover, or even a very slight increase, for an expected gross margin up 25 to 75 basis points compared to 44.9%. of the previous year.
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