Basketball drives ‘brand heat’ for Under Armour - sportstextiles: Lea SportsTextiles

News

Basketball drives ‘brand heat’ for Under Armour

03/05/2019
Basketball drives ‘brand heat’ for Under Armour
Sports brand Under Armour has announced revenues of $1.2 billion for the first quarter of 2019. This represents an increase compared to the same quarter last year of 2%. In a reversal of recent trends, the company’s wholesale business rose by 5% to almost $820 million, while its direct-to-consumer business declined by 6% to just over $330 million.

Its footwear category was especially successful, growing by 8% year on year to reach $293 million for the quarter.

Co-founder and chief executive of Under Armour, Kevin Plank, said the first-quarter performance had given the brand “a solid start” to 2019.

Something that gave him particular satisfaction, he said, was to see an extensive Under Armour presence in the most recent US college basketball season. Five years ago, he recalled, the Baltimore-based brand had “just a handful of teams” in the competition, whereas this time, it supplied on-court kit to 29 teams and had a representative in women’s (Notre Dame) and men’s finals (Texas Tech).

“We are excited to see our product innovation do well on the court,” Mr Plank said. “Our overall presence in basketball continued to drive brand heat.”

Image credit: Under Armour.


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.