First half profits fall as UA seeks to become stronger and faster
02/08/2017
Footwear revenue was flat at just over $500 million; growth came from apparel, up 9.1% to almost $1.4 billion, while accessories brought in 17.3% more revenue compared to the first six months of 2016, reaching $211 million.
On releasing the results, Under Armour said training apparel for men and women had been an area of strength over the six-month period, as had golf.
It said a “dynamic and promotional retail environment” in its home market, the US, had tempered its results overall and operating income fell by almost 95% to reach $2.75 million. On releasing the figures, chief executive, Kevin Plank, commented: “More than doubling our business over the last three years has required significant investments and resources to build our brand. We are utilising 2017 to ensure that operations across our diverse portfolio of sport categories, distribution channels and geographies are optimised as we are building a stronger, faster and smarter company.”
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