Footwear leads Under Armour growth
27/07/2016
Profit dropped 57%, however, mainly due to the loss of Sports Authority, one of Under Armour’s key retail outlets who was forced to close all its stores due to bankruptcy.
Footwear performed strongly in the quarter, recording sales of $243 million, a 58% increase on the same period of 2015. Under Armour said this was down to the “continued success” of its basketball category (led by its Steph Curry signature line) as well as growth in “running and cleated categories”.
International sales made up 15% of Under Armour’s total revenue but grew 68% compared to the second quarter of 2015. So far this year, the company has opened 60 new international stores.
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