Under Armour’s quarterly revenue slumps on lockdowns hit

spike

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 23% fall in quarterly revenue, as retailers across the world remained shut due to the COVID-19 pandemic.

The company last month temporarily laid off about 600 staff at its U.S.-based distribution centers, extended store closures and withdrew its forecast for the year as the coronavirus crisis led to lockdowns across the country, limiting business only to online operations.

Several retail and department

Read More