Flat first half for Under Armour
Sports group Under Armour has posted revenues of just over $2.9 billion for the first half of its current business year, the six months ending September 30. This figure was flat compared to the same period in the previous business year.
Apparel contributed the biggest share, bringing in $1.9 billion, but this was down by 1.3% year on year. Revenue from footwear was up by 7.6%, reaching $723 million.
Interim chief executive, Colin Browne, said the results were in line with expectations. He added: “We anticipate the immediate macroeconomic backdrop to stay uncertain. We are taking a balanced approach to mitigate near-term pressures while continuing to focus on the long-term strength of our brand.”
He listed Under Armour’s strengths as product innovation, consumer connections and its empowerment of athletes.
