Footwear boosts sales at Under Armour
Under Armour has posted higher sales for its third quarter ended September 30, supported by rising footwear sales.
Net revenues increased 16.2% during the third quarter to $269.5 million compared with $231.9 million during the third quarter of 2008. Net income rose to $26.2 million compared with $25.7 million.
Third quarter footwear revenues rose to $33 million from $13.1 million.
Kevin Plank, chairman and CEO, said: "The strength and diversity of our growth platform enabled us to deliver meaningful top line growth during the quarter with all product categories up for the period. Continuing to lead in product innovation and aggressively communicating our authentic position in sports will help ensure that the Under Armour Brand continues to resonate with the athletes of this generation."
For the first nine months of 2009, net revenues increased 16.2% to $634.2 million compared with $546 million in the prior-year period. Net income rose to $31.6 million from $29.9 million.
