Apparel drives Under Armour to best growth since - sportstextiles: Lea SportsTextiles

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Apparel drives Under Armour to best growth since 2007

30/01/2012
Sports brand Under Armour has announced financial results for the fourth quarter ended December 31, 2011. Net revenues increased by 34% during the quarter $403 million compared to net revenues of $301 million in the same period a year earlier. Net profit increased by 42% over the same timeframe to $33 million compared to $23 million in the last quarter of 2010.

For the full year 2011, net revenues increased by 38% to close to $1.5 billion compared to $1.06 billion in the previous year. Apparel net revenues increased by 31% to $1.1 billion compared to $853 million a year earlier. The brand’s Training category performed particularly well, Under Armour said.

Chief executive, Kevin Plank, commented on announcing the results: “We completed a very successful 2011, growing net revenues by the highest overall growth rate since 2007. The strength we continue to see in our apparel and direct-to-consumer businesses affords us the ability to continue to make strategic investments in other long-term growth drivers like footwear and international.”

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