20th consecutive quarter of 20% gains at Under A - sportstextiles: Lea SportsTextiles

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20th consecutive quarter of 20% gains at Under Armour

22/04/2015
Under Armour’s revenues for the first quarter ended March 31 rose 25% compared with the same period last year to $805 million – its 20th consecutive quarter of 20%-plus gains.

First quarter apparel revenues increased 21% to $555 million, driven primarily by new product introductions in baselayer and training.

First quarter footwear revenues increased 41% to $161 million, mainly due to its SpeedForm running shoes as well as the introduction of the Curry One basketball shoe. 

International revenues, which represented 12% of total net revenues for the first quarter, grew 74% year-over-year.

CEO Kevin Plank said while the growth was a great start to the year, he is more excited about the digital platform it is building. “Within our Connected Fitness platform, we closed our two acquisitions of Endomondo and MyFitnessPal to create the world's largest digital health and fitness community. We have already added over 10 million unique registered users to our platform since our initial February announcement, bringing the total Connected Fitness community to over 130 million unique registered users. 

“We opened a 30,000 square-foot Brand House store on the Magnificent Mile in Chicago, while also debuting our first stores in Brazil and the Middle East which contributed to the 74% international growth for the quarter.  We experienced tremendous demand for our new SpeedForm Gemini running shoe and the Curry One basketball shoe with even bigger things to come in these categories.  And in our largest product category, Apparel, we crossed 20% growth for the 22nd consecutive quarter. These are powerful engines that will help ensure the brand remains firmly entrenched as the leading growth company in our industry."

Related stories:

Under Armour reports first $1bn quarter 23/10/2015
High-level departure at Under Armour 14/10/2015
Under Armour targets $7.5 billion by 2018 18/09/2015
Under Armour: 21st quarter of 20%-plus gains 23/07/2015
Basketball veteran heads to Under Armour 20/07/2015
Kevin Plank cements commitment to Under Armour 18/06/2015
Under Armour moves further into football with São Paulo deal 19/03/2015
Under Armour presses further into digital fitness 12/03/2015
Under Armour makes European football move 02/03/2015
Acquisitive Under Armour eyes digital gains, posts record results 05/02/2015
Under Armour hires ‘accomplished footwear leader’ 29/01/2015
‘Exciting new direction’ as Under Armour inks deal with HTC 07/01/2015
Under Armour continues stratospheric rise 27/10/2014
Under Armour chooses Tennessee for $100 million distribution unit 03/10/2014
Under Armour ‘thinks pink’ with women-focused campaign 05/09/2014
Under Armour toasts innovation-inspired growth 25/07/2014

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