Dramatic slowdown in growth of Under Armour’s fo - sportstextiles: Lea SportsTextiles

News

Dramatic slowdown in growth of Under Armour’s footwear sales

28/04/2017
Dramatic slowdown in growth of Under Armour’s footwear sales
Sportswear brand Under Armour reported revenue of $1.1 billion in the first quarter of 2017, a 7% increase compared to the same period of 2017. Despite this, it suffered a net loss of $2 million.

Under Armour’s footwear revenue increased just 2% year-on-year to $270 million. This compares to the 64% improvement in the same period of 2016. Under Armour’s footwear sales have consistently increased by more than 35% each quarter in recent years, making this quarter a disappointing one for this produce segment. 

“We don’t like it and we don’t accept it,” Under Armour founder and CEO Kevin Plank told investors. 

The brand’s apparel revenue increased 7% to $715 million, while sales of accessories grew 12% to $89 million.

Related stories:

Under Armour loses footwear chief 23/11/2017
Under Armour co-founder to take a break 26/10/2017
ASAP Rocky comes on board at Under Armour 21/09/2017
Senior changes at Under Armour point to digital focus 28/06/2017
Under Armour rewards promising young designers 28/03/2017
Former GM man to guide innovation at Under Armour 14/03/2017
French Judo champion signs deal with Under Armour 17/02/2017
Under Armour’s footwear revenue hits $1 billion 01/02/2017
Under Armour’s Lighthouse bears first fruit 31/01/2017
Under Armour expands ‘smart’ shoe portfolio 15/12/2016

Sportstextiles.com cannot be held responsible for content if the language setting is changed from English.

The translations provided by Google Translate are automated and therefore might not be accurate and may contain incorrect, offensive or misleading language. We offer this facility as a guide only.