US-based sportswear retailer Under Armour has posted a 30 per cent rise in its net revenues for the first quarter of 2016 to US $ 1.05 billion compared to net revenues of US $ 805 million in the corresponding period last year. Operating income too zoomed 26 per cent in the reporting quarter to US $ 35 million versus US $ 28 million in the prior year’s period, the company informed in a press release.
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In addition to this, net income at Under Armour surged 63 per cent in the first quarter of 2016 to US $ 19 million compared with US $ 12 million in the prior year’s period. In the period under consideration, wholesale net revenues boomed 28 per cent year-over-year to US $ 744 million as against US $ 579 million in the same period last year; direct-to-consumer net revenues soared 33 per cent to US $ 266 million compared to US $ 200 million in the prior year’s period. Net revenues specifically from apparels increased by 20 per cent to US $ 667 million compared with US $ 555 million in the same period of the prior year.
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Commenting on the results, Kevin Plank, Chairman & CEO, Under Armour averred, “The strong results posted this quarter truly demonstrate the balanced growth of our brand across product categories, channels and geographies. It also showcases our heightened focus on providing better service across our distribution channels, ensuring that our consumer consistently finds the newest, most premium product from us wherever they shop.”
