Under Armour reports increased Q1 revenues
21/04/2016
Net income in the quarter rose from $12 million in 2015 to $19 million this year, an increase of 63%. year on year, net revenues in North American were up 26% whilst international net revenues grew 56%.
Net revenues from apparel increased 20% to $667 million, guided by strong growth in training and golf attire. The success of the Stephen Curry basketball range as well as expanded running offerings resulted in a 64% increase in footwear net revenues to $264 million.
"For the past 24 consecutive quarters, or six years, we have driven net revenue growth above 20% and we are incredibly proud of our start to 2016 with first quarter net revenue growth of 30%,” said Kevin Plank, chairman and CEO of Under Armour.
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