Performance story brings apparel growth for Under Armour
28/04/2010
Baltimore-based sports brand Under Armour has reported an increase in sales and profits for the first quarter of 2010 compared to the same period last year.
The company achieved sales of $229.4 million, which generated profit of $7.2 million, signalling growth of 15% and 81% respectively.
The growth Under Armour registered in apparel sales was 31% with a figure of $172.6 million, while sales of footwear, a much newer category for the brand, fell by 24.4%. Footwear sales in the first quarter of 2010 were $43 million, whereas in the first quarter of last year the brand brought in $56.9 million in shoe sales.
Reacting to the figures, Under Armour chief executive, Kevin Plank, said: “We delivered solid top line growth of 15% in the first quarter as we continued to bring the performance story to new athletes across sports, gender and geographies. Our apparel net revenues increased 31% with strength in both the wholesale and direct-to-consumer channels, evidence the brand still has tremendous growth opportunities.”
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