Under Armour predicts a better year for footwear in 2011
29/07/2010
The company has reported profits for the second quarter of 2010 of $3.5 million compared with $1.4 million for the same period last year.
Sales rose 24% to $204.8 million. Sales of athletic clothes increased 34%, the highest growth rate in 10 quarters, with strong demand for men’s and women’s lines. However, sales of footwear—a much newer category for Under Armour—fell 4.5% to $35.8 million.
Chief executive, Kevin Plank, said the company expects the footwear business to grow again in 2011 after a decline that he said he had expected this year.
Under Armour said on announcing the results that it now believes its sales for the full year could break the $1 billion barrier.
Share this story:
