Record results for Under Armour
Sports brand Under Armour has reported revenues of just under $5.7 billion for 2021, an increase of 27% year on year. Its net profit on this amount was $360 million.
Chief executive, Patrik Frisk, said these figures for revenue and earnings were records for Under Armour. He said that the company had been able to achieve these record results by “staying hyper-focused on operational excellence and serving the needs of athletes”.
Apparel contributed more than $3.8 billion towards the total and footwear $1.25 billion. Revenues from both categories were up by more than 33%. Accessories contributed most of the rest.
North America was Under Armour’s biggest market by far, accounting for $3.8 billion, an increase of almost 30% year on year. Europe contributed $842 million, a rise of 40%, and Asia $831 million, up by 32%.
