Athletic wear brand Under Armour, which exclusively offers clothing in the promo market through alphabroder (asi/34063), announced a 3% increase in total sales for 2017, bringing revenues to $5 billion overall. Total fourth quarter sales were $1.4 billion, an increase of 5% compared to 2016’s fourth quarter and exceeding analysts’ expectations of $1.3 billion.

Despite the growth, Under Armour reported a net loss of $88 million in the fourth quarter, compared to net income of $103 million for the same time last year.

The Baltimore-based company incurred a one-time charge of $39 million in the quarter due to new U.S. tax legislation. Excluding one-time items, Under Armour broke even on a per-share basis.

“After years of rapid growth and building a globally recognized brand, the dynamic landscape of 2017 was a catalyst for us to begin strategically transforming Under Armour into an operationally excellent company,” said Under Armour Chairman and CEO Kevin Plank, a member of Counselor’s Power 50 list, in a press release. “A year into this journey, our fourth quarter and full-year results demonstrate that the tough decisions we're making are generating the stability necessary to create a more consistent and predictable path to deliver long-term value to our shareholders.”

Under Armour’s wholesale business, which focuses on sales to sports specialty stores, mall stores, department stores and others, fell 3% to $3 billion for the year, and 1% to $733 million for the fourth quarter. Direct-to-consumer sales improved 14% to 1.7 billion, representing 35% of global revenue in 2017. In Q4, direct-to-consumer revenue was up 11% to $575 million.

In 2017, the company’s apparel revenue increased 2% to $3.3 billion, as strength in men’s training and golf was moderated by declines in outdoor and team sports. Footwear revenue was up 3% to $1.0 billion, driven by gains in running and men's training. Accessories revenue climbed 10% to $446 million.

For Q4, apparel revenue increased 2% to $952 million, as growth in men’s training and global football was tempered by declines in the team sports and outdoor categories. Footwear revenue jumped 9% to $246 million, driven by strength in running. Accessories revenue was up 6% to $111 million.

While North American revenue was down 5% for the year, Under Armour’s international sales skyrocketed 46% for the year and 47% for the quarter. The brand’s sales in the Asia-Pacific region experienced the largest percentage increase of any international region, rising 61% for the year and 56% in the quarter.

Due to an $85 million charge for restructuring efforts, Under Armour reported third-quarter 2017 sales that fell short of analysts’ expectations. It has since trimmed about 2% of its global workforce and has considered exiting smaller categories such as fishing. In 2018, the company is expecting to incur additional restructuring charges of $110 million to $130 million throughout the remainder of the year, stemming from lease terminations and the closure of some facilities. As a result, Under Armour said it should save at least $75 million annually starting in 2019.

“We’ve learned a lot of lessons in 2016 and 2017,” Plank said during an earnings conference call. “For us as a brand, we think about footwear, women’s and international being our three growth drivers.”

For its 2018 fiscal outlook, Under Armour expects sales to grow at a low single-digit percentage rate. Although there is expected to be a mid-single-digit decline in North American sales, the company anticipates international sales growth of more than 25%.