
Under Armour Earnings: Restructuring Is Tedious but Tracking Our Expectations; Shares Undervalued
Under Armour's fiscal 2027 second-quarter sales fell 7% in North America (59% of total) and on a consolidated basis. Gross margin slid 30 basis points to 47% on unfavorable currency movement, but adjusted selling, general, and administrative costs decreased 3%, primarily on lower marketing costs.