American sportswear retailer Under Armour has announced its financial report for fourth quarter and full year ended December 31, 2016. Revenues were up by 12 per cent to US $ 1.3 billion. Apparel revenues are increased by 7 per cent to US $ 929 million. International revenues of the company represented 16 per cent of total revenues in the quarter, up 55 per cent, primarily driven by significant growth in the UK, Germany, China and Australia. Operating income however declined by 6 per cent to US $167 million. Net income of the brand also reduced by 1 per cent to US $ 105 million.
The company’s full year financial outcome shows 22 per cent surge in revenue to US $4.8 billion. International revenue grew up by 63 per cent, representing 15 per cent of total revenues, compared with 11 per cent in the year 2015. Apparel revenues zoomed 15 per cent to US $ 3.2 billion, operating income is soared 3 per cent to US $ 420 million and net income grew 11 per cent to US $ 259 million.
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Under Armour also posted its 2017 Outlook. The sportswear brand is expecting 11 to 12 per cent increase in net revenue. “Looking forward, our successful track record of re-defining performance gives us great confidence that the opportunities for long-term growth at Under Armour have never been greater,” said Kelvin Plank, CEO, Under Armour adding, “The current environment represents an inflection point to maximize our unique strengths by staying on offense investing smartly in innovation, deepening our connection with consumers and amplifying our focus on operational excellence positioning Under Armour as a stronger company.”
