UPDATE 1-Under Armour's quarterly revenue slumps on lockdowns hit


FILE PHOTO: Products are displayed in an Under Armour store in New York City, U.S., November 4, 2019. REUTERS/Brendan McDermid

(Reuters) – Athletic apparel maker Under Armour Inc (UA.N) (UAA.N) on Monday reported a 22.8% fall in quarterly revenue, as several retailers across the world remained shut due to the COVID-19 pandemic.

The company reported a net loss of $589.7 million, or $1.3 per share, in the first quarter ended March 31, compared with a profit of $22.5 million, or 5 cents per share, a year earlier.

Net revenue fell to $930.2 million from $1.20 billion.

Reporting by Nivedita Balu in Bengaluru; Editing by Tomasz Janowski



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