International growth lifts Under Armour’s Q1 results
01/05/2018
Revenues reached $1.2 billion for the first three months of this year, with wholesale business increasing by 1% to $779 million and direct-to-consumer sales growing by 17% to reach $352 million.
In terms of geography, Under Armour’s North American business was 1% down on the same quarter last year, but its international sales were up by 27% and now account for almost 25% of the brand’s total revenues.
Apparel sales grew by 7% to reach $766 million, while growth in the footwear category was 1%. Under Armour commented that its running shoes segment had performed well but that this success had been tempered by a lack of growth in football and other team sports.
On announcing the results, founder and chief executive, Kevin Plank, said: “Our first-quarter results demonstrate measured progress against our focus on operational excellence and becoming a better company. As we continue to build our global brand by delivering innovative performance products to our athletes, amplifying our story, further strengthening our go-to-market process, and leveraging our systems to create even deeper consumer connections, we remain confident in our ability to deliver on our full year targets.”
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