Under Armour continues stratospheric rise
27/10/2014
Sales grew 26% in apparel, 50% in footwear, and 32% in accessories. Net income increased 22% to $89 million.
The company attributed the growth to expanded offerings and innovations across training, golf and outdoor.
Footwear revenues of $122 million were led by introductions in running and basketball.
Accessories revenues increased 32% to $85 million driven by expanded offerings in headwear, bags, and gloves.
CEO Kevin Plank said: “The momentum and growing confidence we outlined last quarter in footwear and international were on full display in the third quarter with growth rates accelerating to 50 percent and 94 percent, respectively.
It has increased its forecast for 2014 revenues in the range of $2.98 billion to $3.0 billion to $3.03 billion, representing growth of 30% over 2013.
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