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Under Armour sees grounds for optimism

27/07/2018
Sports brand Under Armour has posted revenues of more than $2.3 billion for the first half of 2018, an increase compared to the same period last year of 6.8%. However, its net loss for the period has increased, from $14.6 million this time last year to $125.8 million for the first half of this year.

Commenting on the results, founder and chief executive, Kevin Plank, explained that a number of factors give him hope for growth in the seasons ahead.

He explained that new Under Armour products are now going to take 16 months to come to market instead of 21 months, which has been the norm until now. He mentioned “supply chain initiatives” and “overall process efficiency” as being key to this. Under Armour is also reducing the number of products it makes and sells, which is one of the factors making its supply chain more efficient. He said all of these aspects of the business are “confidence-inspiring”.

Mr Plank picked out running, training and basketball as the areas offering Under Armour the largest potential for growth and the areas of the sports business that it will continue to focus on with most intensity.

He mentioned specific examples in each category that have been among the brand’s highlights so far this year: the HOVR Phantom and Sonic running shoes, the Project Rock and Misty Copeland training collections, and the Curry 5 basketball shoe.


Related stories:

Under Armour to expand HOVR range for 2019 13/11/2018
Under Armour to further trim its workforce 21/09/2018
Under Armour targets muscle stability with new collection 17/09/2018

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