Under Armour Inc., a leading innovator, retailer and supplier of branded performance athletic apparels, footwear and accessories has reported a rise of 8 per cent, to US $ 1.2 billion, in its second-quarter, the company revealed recently. The sportswear brand fetched US $ 1.17 billion in its net revenue, going post analysts’ average estimate that was US $ 1.15 billion.
Notably, the revenue was US$ 1.09 billion in the same time period the previous year. The retailer’s apparel revenue reported a 10 per cent surge while a rise of 15 per cent was recorded by the company’s footwear sales.
The sales in North America also witnessed a hike of 1.6 per cent, after a few lacklustre quarters previously, as the US-based retailer’s shares increased about 4 per cent to US $ 20.48 in trading before the bell.
Interestingly, Under Armour has shifted focus to its international markets due to the tough competition it faced from its arch-rivals Nike and Adidas in the region and as a result, its sales in Europe and Asia soared up to 31 and 34 per cent respectively.
The sports retailer’s operating loss was US $ 105 million while the adjusted operating loss was US $ 20 million.
Additionally, excluding the impact of continuous restructuring efforts, adjusted operating income is expected to be from US $ 130 million to US $ 160 million.
