Under Armour: 21st quarter of 20%-plus gains
23/07/2015
However, income fell decreased 17%, due to the impacts of the Endomondo and MyFitnessPal acquisitions.
Apparel revenues increased 23% to $515 million, driven by enhanced product offerings in baselayer and training.
Footwear revenues grew 40% to $154 million, reflecting product expansion across the running category and excitement around Stephen Curry signature product.
Accessories revenues increased 39% to $83 million, driven primarily by new bags.
CEO Kevin Plank said: "More than ever before, this year has highlighted that the right investments are key to not only driving near-term results, but building the foundation for the unlimited potential of the Under Armour Brand.”
He added that the company will grow Connected Fitness “one of our key foundations for growth”.
“With our Connected Fitness community now totalling more than 140 million unique registered users and adding on average more than 100,000 new athletes each day, we are pleased with our progress and believe we are still in the early stages of uncovering the potential of what the world's largest digital health and fitness community can do to build consumer engagement and drive healthier lifestyles."
The company had previously anticipated 2015 net revenues of $3.78 billion, representing growth of 23%, but has revised this to $3.84 billion.
Kevin Plank is the Innovator in WSA May/June, available to download as an ezine or as a pdf in the Technical Library. WSA July/August – part two of our 20th anniversary celebrations – will be published next week.
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