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Under Armour’s growth slows

26/10/2016
Revenue at sportswear manufacturer Under Armour grew for the 26th consecutive quarter for the period ending September 30, although at a slower pace than previously seen.

For the third quarter of 2016, Under Armour’s revenue was $1.47 billion, a 22% increase on the same period last year. This compares to growth of 28% and 30% in the previous two quarters.

The slowdown was most visible in North American sales, which grew 16% year-on-year. International sales, which made up 15% of total sales in the quarter, increased 74%.

Revenue from apparel increased 18% to $1.02 billion, sales from Under Armour’s footwear division jumped 42% to $279 million, and sales of accessories grew 18% to $122 million.

Kevin Plank, CEO of Under Armour, said it is currently at a “pivotal moment in time” as it attempts to achieve long-term success. He added that the investments the brand is making now will be crucial to future growth. 

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Former VF man to lead Under Armour’s investor relations team 19/01/2017
Under Armour expands ‘smart’ shoe portfolio 15/12/2016
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Under Armour appoints “rising star” as new president for North America 26/09/2016
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Under Armour opens manufacturing and design centre 29/06/2016

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