Under Armour has recently released its 10-Q report for the quarter ended June 30, 2026. Under Armour, Inc. designs, develops, markets, and distributes performance apparel, footwear, and accessories for men, women, and youth. Its product line includes compression, fitted, and loose-fit apparel; footwear for running, training, basketball, cleated sports, recovery, outdoor use, and casual wear; and accessories such as gloves, bags, headwear, and socks. The company sells through wholesale channels and directly to consumers via its own retail stores and e-commerce sites, and it operates in the United States, Canada, Europe, the Middle East, Africa, Asia-Pacific, and Latin America.
In Item 2, Management said the quarter was shaped by softer consumer demand and heavier promotional activity, especially in North America and Asia-Pacific. For the three months ended June 30, 2026, total net revenue fell 3.2% from a year earlier, with wholesale down 1.6% and direct-to-consumer down 5.8%. By product category, apparel revenue declined 1.7%, footwear fell 7.7%, and accessories dropped 4.4%. Regionally, North America revenue decreased 9.0%, Asia-Pacific fell 6.6%, EMEA rose 12.1%, and Latin America increased 7.7%.
Gross margin widened 590 basis points to 54.1%, while selling, general and administrative expenses increased 2.4%. Under Armour said the gross margin improvement reflected tariff recoveries: it recognized a net benefit of about $70 million in cost of goods sold from tariff refunds during the quarter and received total cash refunds of about $101 million. It also reduced inventory carrying value by about $8 million to reflect estimated tariff refunds tied to unsold inventory.
The company expanded its 2025 restructuring plan by up to $50 million, bringing expected pre-tax restructuring and related charges to as much as $305 million. As of June 30, 2026, Under Armour had recorded $266.3 million of those charges, leaving $38.7 million still to be incurred. The plan now includes up to $139 million in cash charges and up to $166 million in non-cash charges, and the company expects it to be substantially complete by December 31, 2026. As a result of these announcements, the company's shares have moved -5.23% on the market, and are now trading at a price of $6.065. If you want to know more, read the company's complete 10-Q report here.
