Under Armour FY26 revenue slides 8% to $2.9B as net loss hits $496M; shares tumble 16.7%
Margin pressure, heavy markdowns, and outlet-skewed distribution dragged Under Armour to a $496M FY2026 loss. North America fell 7% while EMEA (+7.1%), APAC (+12.7%), and LATAM (+22.4%) grew. Analysts flag weak brand positioning and the Steph Curry exit as turnaround drags into FY2027.
Under Armour's FY2026 revenue fell 8% to $2.9B with a $496M net loss; stock dropped 16.7%. Analysts cite margin pressure, markdowns, outlet-heavy distribution, loss of Steph Curry, and weak brand positioning despite international growth.
Why this matters
Full-year results confirm the Q4 narrowing wasn't enough to offset a $496M FY26 loss, while leadership churn like the Varvatos exit compounds brand-positioning concerns flagged by analysts.
Retail-brand signals steady at 133 over the last 90 days.