Profit is the primary focus for Under Armour
Sports group Under Armour has reported revenues of just under $2.9 billion for the first six months of 2023. This figure represents a fall of 1.3% compared to the same period last year.
Apparel remained the group’s best-selling category, bringing in revenues of just under $1.9 billion, down by 0.6% year on year.
Footwear’s figure was almost $715 million, a decline of 1.1% compared to the first half of 2022.
Accessories brought in almost $212 million, an increase of 1.8%.
Chief executive, Stephanie Linnartz, pointed out that net profits on the first-half results were up by 3.2% and she said this had exceeded the company’s expectations.
Ms Linnartz said Under Armour was revising downwards its revenue expectations for its current business year, “primarily in response to challenges in North America”, but she said it remained confident of being able to drive profitability.
