Core Insights - Under Armour reported a revenue decline of 9% year-over-year for fiscal year 2025, totaling $5.2 billion, with a net loss of $201 million [1] - The company is undergoing a turnaround plan initiated by founder Kevin Plank, focusing on core men's apparel and reducing discount strategies [1] - Despite the overall revenue decline, the gross margin improved by 1.7 percentage points to 46.7% in Q4, attributed to supply chain optimization and reduced promotional activities [1] Financial Performance - Fiscal year 2025 revenue was $5.2 billion, down 9% from the previous year, with a net loss of $201 million [1] - Q4 revenue was $1.2 billion, a decrease of 11% year-over-year, with a net loss of $67 million [1] - Gross profit for fiscal year 2025 was $2.45 billion, with a gross margin of 47.9%, reflecting a 1.8 percentage point increase [1] Business Segments - Apparel segment generated $3.45 billion in revenue, down 8.9%, accounting for 66.8% of total revenue [1] - Footwear segment saw a larger decline of 12.8%, with revenue of $1.206 billion, representing 23.4% of total revenue [1] - Accessories segment was the only category with growth, reaching $411 million, up 1.3%, but only 8% of total revenue [1] Market Analysis - North America remains the core market, contributing $3.1 billion in revenue, down 11.4% [1] - International revenue was $2.1 billion, with EMEA showing slight growth of 0.4% to $1.086 billion [1] - The Asia-Pacific region experienced the largest decline at 13%, with revenue of $755 million, and China contributing approximately $380 million [1] Strategic Initiatives - Under Armour is focusing on the Chinese market as a growth strategy, implementing initiatives like hosting events and opening flagship stores [1] - The company aims to capture more market share in the competitive outdoor apparel sector, which saw a market size of 38.4 billion yuan in 2022, growing 18% [1] - The turnaround plan includes a $70 million to $90 million investment, with cost-cutting measures and a focus on core product categories [1]