Under Armour’s gross margin for the fourth quarter rose 160 basis points to 45 per cent. Net revenues rose 1.5 per cent. The 2018 results demonstrate significant progress against the company’s multi-year transformation toward becoming an even stronger brand and more operationally excellent company.
By region, North American sales fell 5.8 per cent while those in Latin America dropped 15.1 per cent. Sales in the Asia-Pacific rose 35.2 per cent and sales in Europe, Middle East and Africa gained 31.7 per cent. By segment, apparel sales rose two per cent. Footwear slipped 4.5 per cent while accessories inched down 2.2 per cent.
Under Armour has been working on improving operations, including supply chain initiatives that are expected to help boost 2019’s gross margins. The company’s accelerated innovation agenda, disciplined go-to-market process and powerful consumer-centric approach gives it increasingly greater confidence in its ability to deliver for Under Armour athletes, customers and shareholders.