Home / Knowledge / News / Apparel/Garments / Under Armour Q1 net revenues surge 25%
Under Armour Q1 net revenues surge 25%
23
Apr '15
For the first quarter ended March 31, 2015, net revenues at NYSE listed Under Armour, Inc. surged 25 per cent year over year.

“Net revenues climbed 25 per cent in the first quarter of 2015 to $805 million compared with net revenues of $642 million in the first quarter of 2014,” Under Armour said in a press release.

However, net income declined 13 per cent in the reporting quarter to $12 million as against $14 million in the prior year's period.

“This is inclusive of costs related to the previously announced acquisitions of Endomondo and MyFitnessPal during the first quarter,” it added.

Diluted earnings per share for the first quarter of 2015 were $0.05 compared with $0.06 per share in the corresponding quarter of previous year.

First quarter of 2015 apparel net revenues ascended 21 per cent to $555 million compared with $459 million in the same period of the prior year, driven by new product launches in baselayer and training.

First quarter footwear net revenues drove up by 41 per cent to $161 million from $114 million in the prior year quarter, led by expanded SpeedForm running offerings and launch of Curry One basketball shoe.

Net revenues in the accessories segment expanded 23 per cent to $63 million as against $52 million in the same quarter of last year.

Direct-to-Consumer net revenues, which represents 25 per cent of total net sales grew 21 per cent year-over-year, while International net revenues, which makes up for 12 per cent of total sales zoomed 74 per cent year-on-year.

Gross margin for the first quarter of 2015 was unchanged at 46.9 per cent, primarily reflecting favourable product margins offset by impacts of higher air freight and foreign exchange rates.

Selling, general and administrative expenses as a percentage of net revenues were 43.5 per cent in the first quarter of 2015 as against 42.7 per cent in the prior year's period.

“This primarily reflects costs associated with the two acquisitions, including $6.3 million of one-time deal-related costs,” Under Armour explained by saying.

First quarter operating income increased 3 per cent to $28 million compared with $27 million in the same quarter of 2014.

Cash and cash equivalents increased 29 per cent to $232 million at March 31, 2015 compared with $180 million at March 31, 2014.

Inventory at March 31, 2015 mounted 22 per cent to $578 million as against $472 million at March 31, 2014.

Total debt increased to $677 million at March 31, 2015 from $152 million at March 31, 2014, primarily reflecting borrowing to fund the two acquisitions.

In 2015, it expects net revenues of around $3.78 billion, up 23 per cent over 2014 and operating income in the range of $400 million to $408 million, higher by 13-15 per cent over 2014.

It said, the 2015 guidance continues to reflect the net dilutive impact from the Connected Fitness acquisitions, including one-time deal-related costs, as well as the impact of the strong dollar. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Japan’s JICA promoting energy-saving devices in Bangladesh

Apparel/Garments | On 21st Feb 2018

Japan’s JICA promoting energy-saving devices in Bangladesh

The Japan International Cooperation Agency (JICA) is promoting use of ...

China’s JD.com announces financing pacts for JD Logistics

Textiles | On 21st Feb 2018

China’s JD.com announces financing pacts for JD Logistics

China’s largest retailer JD.com Inc recently announced it has entered ...

Courtesy: Indorama Ventures

Textiles | On 21st Feb 2018

IVL 2017 revenue up 17% y-o-y to $8,438 million

Indorama Ventures Public Company Limited (IVL) has reported revenue...

Interviews View All

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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

February 2018

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
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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