Under Armour sprints ahead with 50% rise in footwear sales
US sportswear brand Under Armour has reported a 30% rise in third-quarter revenues to $938 million, following similar growth stories in the first and second quarter.
Sales grew 50% in footwear, 26% in apparel and 32% in accessories. Net income increased 22% to $89 million.
The company attributed the growth to expanded offerings and innovations across training, golf and outdoor.
Footwear revenues of $122 million were led by introductions in running and basketball.
CEO Kevin Plank said: “The momentum and growing confidence we outlined last quarter in footwear and international were on full display in the third quarter with growth rates accelerating to 50% and 94%, respectively.”
It has increased its forecast for 2014 revenues from $2.98 billion to $3.03 billion, representing growth of 30% over 2013.
