Under Armour

Marketing spend by year

Bars: advertising and marketing expense, $B (10-K). Line: spend as a share of revenue.

What they told investors

“Our marketing reset is not only about how much we spend, but how effectively we spend it and what the return ultimately is.”Kevin Plank · 2027 Q1 · transcript

“It's that balance between brand marketing and product marketing.”management · 2027 Q1 · transcript

“But as Kevin said, and I do want to just reemphasize this point, even the marketing spend, as we've gone through it, if we're looking at what is actually reaching ultimate consumers and eyeballs, we are being very disciplined around making sure that we don't end up cutting that…”Reza Taleghani · 2027 Q1 · transcript

“So the e-commerce with less promotions, better visuals and content, we're focused on retail elevation, inventory management is something that you want to be smart about right now. but we're really shifting from chasing revenue to real disciplined marketplace execution and…”Kevin Plank · 2027 Q1 · transcript

“And so we're looking at it and saying, what are those initiatives that are going to drive full price sales?”Reza Taleghani · 2027 Q1 · transcript

“So we feel very confident that we're not impacting the marketing spend that's really driving revenues, but we're just being much more efficient in terms of how we go to market.”Reza Taleghani · 2027 Q1 · transcript

What the 10-K says about marketing

• investing in brand “We currently focus on marketing our products to consumers primarily for use in athletics, fitness and training activities, as well as casual use through sportswear products, emphasizing our ability to support the needs of our athletes throughout all moments of their day. We seek…” 10-K, May 19, 2026
• investing in brand “Our marketing strategy centers on athletes and teams across multiple levels of competition as well as brand ambassadors and influencers. We provide and sell our products to high school, collegiate and professional level athletes and organizations. We execute this strategy…” 10-K, May 19, 2026
• investing in brand “We are the official outfitter of teams in several high-profile collegiate conferences and professional sport organizations, supporting the athletes on and off the field. For example, we are an official supplier of footwear and gloves to the National Football League ("NFL"). We…” 10-K, May 19, 2026
• investing in brand “We promote our products through a range of digital, broadcast and print media outlets. As part of our marketing strategy, we utilize social media and other digital platforms to enhance brand awareness, strengthen consumer engagement and support our direct to consumer…” 10-K, May 19, 2026
• measurement “The costs and return on our investments for our sports marketing sponsorships may become more challenging and this could impact the value of our brand image.” 10-K, May 19, 2026

Say vs do

Receipts say brand/spend down. In 84 statements from its leaders in interviews, 7 argued for investing in brand and 0 for cutting; the filed spend went down.

Peers