Under Armour has reported a 23 per cent revenue increase for the first quarter of 2013.
Revenues rose to $472 million, while income fell 47 per cent to $8 million, due largely to marketing expenditure.
First quarter apparel revenues increased 22 per cent to $346 million and footwear revenues rose 27 per cent to $81 million.
Accessories revenues increased 22 per cent to $36 million.
Direct to consumer revenues, which represented 26 per cent of total net revenues for the first quarter, grew 31 per cent year on year.
“In the first quarter we drove growth in excess of 20 per cent for the 12th consecutive quarter in total revenues and the 14th consecutive quarter in apparel revenues,” says Kevin Plank, chairman and CEO of Under Armour.
“This growth is the direct result of our enhanced design and innovation, including the new and improved HeatGear Sonic Baselayer and the UA Alter Ego line featuring super heroes such as Batman and Superman.
“Our youth product is stronger than ever and we continue to see traction with our expanded women’s lines in Studio and ArmourBra.
“Momentum is also evident in footwear, with solid sell through of our latest product in the running platform, Spine Venom.”
The company expects 2013 net revenues in the region of $2.21 billion-$2.23 billion, representing growth of 21 per cent-22 per cent compared to 2012, and 2013 income in the range of $256 million-$258 million, 23 per cent-24 per cent up on 2012.
Picture courtesy of Under Armour.
