Under Armour reported consolidated revenue of $5 billion for fiscal year 2026, marking a 4% decline compared to the previous year, as weakening demand in North America and restructuring-related expenses weighed heavily on the company’s performance.
The sportswear brand posted a net loss of $496 million for the fiscal year ended March 31, 2026. The result was significantly impacted by tax adjustments and costs linked to the restructuring plan launched in fiscal 2025.
North America, the company’s largest market, recorded the sharpest decline, with revenue falling 8% to $2.9 billion. International operations, however, partially offset the downturn, growing 4% year-over-year to $2.1 billion.
The Europe, Middle East and Africa (EMEA) region and Latin America led international growth, each posting a 9% increase in revenue. Meanwhile, the Asia-Pacific market declined 5% during the fiscal year.
Across distribution channels, wholesale revenue decreased 5% to $2.8 billion, while direct-to-consumer (DTC) sales slipped 2% to $2.1 billion.
By product category, footwear experienced the steepest decline, dropping 11%, followed by apparel, which fell 2%. Accessories were the only segment to post growth, albeit marginally, with a 1% increase.
Fourth-quarter results reflected the broader annual trend. Revenue for the quarter declined 1% to $1.2 billion, while the company recorded a net loss of $43 million.
The quarterly and annual figures continue to absorb costs associated with Under Armour’s restructuring strategy. To date, the company has incurred $261 million in restructuring expenses.
Following an internal operational review, the company expanded the scope of its transformation program and now expects total restructuring costs to reach approximately $305 million. The process is scheduled for completion by December 2026.
For fiscal year 2027, which began on April 1, 2026, Under Armour expects another slight decline in consolidated revenue. The company anticipates ongoing weakness in North America will not be fully offset by modest growth in EMEA and Asia-Pacific markets.
Despite the cautious revenue outlook, Under Armour projects operating income between $96 million and $116 million for the year ahead.
The company plans to improve profitability through gross margin expansion, pricing adjustments, more efficient channel distribution, continued cost discipline, and increased marketing investments aimed at repositioning and strengthening the brand globally.