Trends & Features

Under Armour enjoys strong Q2 performance

The brand’s second quarter net revenue rose 23 per cent to $455 million (£295 million).

Net income increased 163 per cent to $18 million (£11.6 million).

Apparel revenue for the period stood at $310 million (£201 million), primarily driven by new baselayer product, while footwear increased 21 per cent to $82 million (£53 million).

“We continued to create great excitement in the marketplace during the second quarter through innovative design across all platforms – apparel, footwear and accessories – speaking loudly to the next generation of Under Armour athletes,” Kevin Plank, chairman and CEO of Under Armour, says.

“While we continue to see great momentum in our apparel business, we are demonstrating share gains in footwear on the field with baseball and football cleats, as well as building upon our momentum in running footwear with foundational platforms like UA Spine.

“This continued execution against our athlete’s demanding expectations helped drive net revenues growth in excess of 20 per cent for the 13th consecutive quarter.”

Under Armour expects 2013 net revenues to be in the range of $2.23 billion-$2.25 billion, representing growth of 22-23 per cent compared to 2012, and 2013 operating income in the range of $258 million-$260 million, an increase of 24-25 per cent on last year.

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