Home / Knowledge / News / Apparel/Garments / Under Armour Q2 net revenue surges 23%
Under Armour Q2 net revenue surges 23%
25
Jul '13
Under Armour, announced financial results for the second quarter ended June 30, 2013.  Net revenues increased 23% in the second quarter of 2013 to $455 million compared with net revenues of $369 million in the prior year's period.  Net income increased 163% in the second quarter of 2013 to $18 million compared with $7 million in the prior year's period.  Diluted earnings per share for the second quarter of 2013 were $0.16 compared with $0.06 per share in the prior year's period.  

Second quarter apparel net revenues increased 23% to $310 million compared with $253 million in the same period of the prior year, primarily driven by new baselayer product and the expansion of the Storm and Charged Cotton platforms. 

Kevin Plank, Chairman and CEO of Under Armour, Inc., stated, "We continued to create great excitement in the marketplace during the second quarter through innovative design across all platforms – apparel, footwear and accessories – speaking loudly to the next generation of Under Armour athletes.  

While we continue to see great momentum in our apparel business, we are demonstrating share gains in footwear on the field with baseball and football cleats, as well as building upon our momentum in running footwear with foundational platforms like UA Spine.  This continued execution against our athlete's demanding expectations helped drive net revenues growth in excess of 20% for the 13th consecutive quarter."

Gross margin for the second quarter of 2013 was 48.3% compared with 45.9% in the prior year's quarter, primarily reflecting lower year-over-year North American apparel and accessories product costs and favorable year-over-year sales mix. 

Selling, general and administrative expenses as a percentage of net revenues were 41.2% in the second quarter of 2013 compared with 42.7% in the prior year's period, primarily reflecting the timing of marketing expenses.  Second quarter operating income increased to $32 million compared with $12 million in the prior year's period. 

Under Armour


Must ReadView All

Sanjay K Jain, managing director, TT Ltd

Textiles | On 21st Sep 2017

TT’s Sanjay Jain elected new chairman of CITI

The Confederation of Indian Textile Industry (CITI), the apex body...

Textiles | On 21st Sep 2017

NRF urges US lawmakers to lower corporate tax rates

The National Retail Federation (NRF) has written to the US Senate...

Apparel/Garments | On 21st Sep 2017

UK fashion exports £10.7 bn in 2016; highest till now

Exports of British fashion goods rose to £10.7 billion in 2016, the...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Top executives
Textile industry

The foremost issue is bridging the skill gap

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search