25% jump in sales at Under Armour
31/01/2013
Income increased 54% in the fourth quarter of 2012 to $50 million, compared with $33 million in the prior year's period.
Kevin Plank, chairman and CEO, said: "We closed 2012 strongly, delivering net revenue growth of at least 20% for the eleventh consecutive quarter in Q4 by building upon key apparel technology platforms. Our ability to bring practical innovation to our consumer across a broad range of product drove our 25% net revenue growth in 2012 and positions us well for 2013 and beyond."
In apparel, revenues increased 25% to $405 million, driven primarily by Fleece, which included a broader expansion of the Storm platform. Footwear revenues rose 43% to $45 million, primarily driven by new running styles, including UA Spine, and strong sales of new baseball cleats.
Mr. Plank added: "In the year ahead, we will drive growth by reinvigorating core categories like baselayer, continuing to expand our consumer base in women's and youth, and introducing the next wave of Under Armour innovation through product such as Armour39 that will debut in the next month.
"We will open the next generation of Under Armour specialty retail in mid-February in our home city of Baltimore, while we are prioritising our growth strategies in key markets in Europe, Asia, and Latin America."
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