Under Armour achieves growth in all categories
27/10/2009
Sports apparel and footwear brand Under Armour has announced financial results for the third quarter ended September 30, 2009.
The company’s net revenues increased by 16.2% during the quarter to $269.5 million, compared with $231.9 million in the third quarter of
2008. Net income increased to $26.2 million in the third quarter of 2009 compared with $25.7 million in the same period last year.
Revenue from the company’s apparel range increased by 7.1% to $215.4 million compared
with $201.1 million in the same period of the prior year. Under Armour said it had seen growth in the sales of its collections for men, women and youths. Footwear, a newer category for the company, brought in $33 million in revenue during the quarter compared to only $13.1 million in the third quarter of 2008.
The company’s chairman and chief executive, Kevin Plank, commented: “The strength and diversity of our growth platform enabled us to deliver meaningful top line growth during the quarter with all product categories up for the period.”
He said the company would keep investing in product innovation.
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