Under Armour, a distributor of branded athletic performance apparel, posted 91 per cent revenue jump to $1.4 billion (Q2 FY20: $707.6 million) in second quarter (Q2) of FY21 ended June 30, 2021 against previous year. Considering the strong performance, the company has raised its FY21 revenue outlook up to low twenties per cent against high teens previously.
Under Armour, a distributor of branded athletic performance apparel, posted 91 per cent revenue jump to $1.4 billion (Q2 FY20: $707.6 million) in second quarter (Q2) of FY21 ended June 30, 2021 against previous year. Considering the strong performance, the company has raised its FY21 revenue outlook up to low twenties per cent against high teens previously.#
“We are very pleased with Under Armour's better than expected second-quarter results, which reflect solid progress compared to both 2020 and 2019. Given the continued momentum, we're raising our full-year outlook, which puts us on track to achieving a solid performance in 2021,” Patrik Frisk, president and CEO at Under Armour, said in a press release.
Under Armour, a distributor of branded athletic performance apparel, posted 91 per cent revenue jump to $1.4 billion (Q2 FY20: $707.6 million) in second quarter (Q2) of FY21 ended June 30, 2021 against previous year. Considering the strong performance, the company has raised its FY21 revenue outlook up to low twenties per cent against high teens previously.#
Gross profit for Q2 almost doubled to $668.8 million ($349.1 million), while income from operations upsurged $121.2 million (loss: $169.7 million). The company’s net income accelerated to $59.2 million (loss: $182.9 million).
Under Armour, a distributor of branded athletic performance apparel, posted 91 per cent revenue jump to $1.4 billion (Q2 FY20: $707.6 million) in second quarter (Q2) of FY21 ended June 30, 2021 against previous year. Considering the strong performance, the company has raised its FY21 revenue outlook up to low twenties per cent against high teens previously.#
According to the American sportswear company, revenues from North America skyrocketed 101.4 per cent to $905.5 million ($449.7 million), whereas EMEA surged 132.5 per cent to $207.2 million ($89.1 million). Besides these, Asia Pacific ($192.3 million) and Latin America ($46.5 million) revenues grew 56.1 per cent and 317.3 per cent respectively.
Under Armour, a distributor of branded athletic performance apparel, posted 91 per cent revenue jump to $1.4 billion (Q2 FY20: $707.6 million) in second quarter (Q2) of FY21 ended June 30, 2021 against previous year. Considering the strong performance, the company has raised its FY21 revenue outlook up to low twenties per cent against high teens previously.#
Categorically, Under Armour’s apparel revenues escalated 105.3 per cent to $874.2 million ($425.8 million), along with 85.1 per cent rise in footwear revenues to $342.6 million ($185.0 million).
Under Armour, a distributor of branded athletic performance apparel, posted 91 per cent revenue jump to $1.4 billion (Q2 FY20: $707.6 million) in second quarter (Q2) of FY21 ended June 30, 2021 against previous year. Considering the strong performance, the company has raised its FY21 revenue outlook up to low twenties per cent against high teens previously.#
“At the halfway point of our fiscal year, I'm confident in our ability to execute our strategy by putting Focused Performers at the centre of everything we do and increasing our capacity to drive consistent, profitable growth for our shareholders over the long-term,” Frisk concluded.
Fibre2Fashion News Desk (JL)
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