UAA - Under Armour falls after warning supply chain issues could last until summer

Under Armour (NYSE:UAA) fell in early trading after warning supply chain issues will linger this spring for the company and potentially into the summer. The disclosure took some of the shine off a strong Q4 earnings report that topped analyst expectations. North America revenue increased 15% to $1.1B and international revenue increased 3% to $461M. Within the international business, revenue increased 24% in EMEA, decreased 6% in Asia-Pacific and fell off 22% in Latin America. Wholesale revenue increased 16% to $768M and direct-to-consumer revenue increased 10% to $720M. E-commerce sales represented 42% of the total direct-to-consumer business during the quarter. Also during the quarter, apparel revenue increased 18% to $1.1B. Footwear revenue was up 17% to $283M. Accessories revenue came in 27% lower at $107M. Gross margin increased 130 basis points year-over-year to 50.7% of sales during the quarter, driven by benefits from pricing and restructuring charges in the prior year, offset by

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Under Armour falls after warning supply chain issues could last until summer