>>
Rewind 2021 and prospects for 2022 Rewind 2021 and prospects for 2022
Home / Knowledge / News / Apparel/Garments / Q2 2017 revenue climbs 9% to $1.1 billion at Under Armour
Q2 2017 revenue climbs 9% to $1.1 billion at Under Armour
02
Aug '17
For the second quarter of fiscal 2017, Under Armour has recorded an increase of 9 per cent in its revenue, to a total of $1.1 billion, up 8 per cent currency neutral. The company's revenue to its wholesale customers climbed 3 per cent to $655 million and direct-to-consumer revenue also went up 20 per cent to $386 million for the reported period.

"Our second quarter performance validates the strength of our multiple growth levers to deliver solid results in today's dynamic global environment," said Under Armour chairman and CEO Kevin Plank. "More than doubling our business over the last three years has required significant investments and resources to build our brand. We are utilising 2017 to ensure that operations across our diverse portfolio of sport categories, distribution channels and geographies are optimised as we are building a stronger, faster and smarter company."

The company's gross margin declined 190 basis points to 45.8 percent as benefits from channel and product mix were offset by inventory management initiatives, changes in foreign currency rates, and higher air freight in connection with our enterprise resource planning (ERP) system implementation, which impacted the timing of shipments to certain key customers.

"As we stand up our category management structure within a consumer-led approach, we intend to meaningfully increase our go-to-market speed and amplify our digital capabilities," said Plank. "We've identified a number of areas to enhance our operational capabilities, drive process improvement and gain greater efficiencies. We remain steadfast in driving and building our brand while shifting our operational focus to become more return-on-investment and cost of capital centric - institutionalizing discipline to deliver more consistent, long-term shareholder value."

For the fiscal year 2017, the company's net revenue is expected to grow 9 to 11 per cent versus the previous expectation of 11 to 12 per cent growth, reflecting moderation in the company's North American business. Gross margin, on a reported basis, is expected to be down approximately 160 basis points compared to 46.4 per cent in 2016 as benefits from product costs and sales mix are offset by impacts from the restructuring plan, changes in foreign currency and increased efforts to manage inventory. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 29th Jan 2022

EU refers China to WTO following trade restrictions on Lithuania

The EU recently filed a case at the World Trade Organisation against...

Pic: Shutterstock

Apparel/Garments | On 29th Jan 2022

Philippines misses Jan 1 RCEP deadline; to conduct public hearing

The Philippines missed the January 1 effectivity of the Regional...

Pic: Shutterstock

Textiles | On 29th Jan 2022

ILO, BGMEA join hands to continue safety momentum in RMG sector

The International Labour Organisation (ILO) and the Bangladesh...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Hopeful that issue will be resolved by first half of 2022

Vandana Narang, National Institute of Fashion Technology

Vandana Narang
National Institute of Fashion Technology

Campus placements are low due to lockdowns

Textile Industry, Head honchos

Textile Industry
Head honchos

Uniform designing is a numbers game

Raiyan Islam,

Raiyan Islam

Founded in 1981 by Sayeeful Islam, Concorde Garments Group is a market...

Dr. Catherine Tubb,

Dr. Catherine Tubb

Created in 2018 to investigate the risk of market failure related to...

Alberto Gotti,

Alberto Gotti

Danitech was born from the will of a group of technicians to offer the...

Shlomzion Chen, Seevix

Shlomzion Chen
Seevix

Seevix Material Sciences Ltd, which develops and manufactures synthetic...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Payal Singhal, Label - Payal Singhal

Payal Singhal
Label - Payal Singhal

Leading South Asian fashion designer, <b>Payal Singhal </b>known for her...

Sunita Shanker, Label Sunita Shanker

Sunita Shanker
Label Sunita Shanker

Inspired by the rich traditional crafts of India, Sunita Shanker’s work is ...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah &amp; Sandeep is a luxury menswear label...

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

Leave your Comments

ESTEEMED CLIENTS

Maceton Limited
Under Armour Global Sourcing Ltd
NITI Aayog
SHAHI Exports Pvt Ltd
BIMBA ;& LOLA SL
Sainsbury's Argos Asia Limited
Target Corporation (MN)
H;&M Hennes ;& Mauritz (Far East) Ltd
Seasalt Limited
Gap International Sourcing Limited
Guess Europe Sagl,
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
Walmart
Recron Polyester from Reliance Industries Limited
Green Fibre
Alix Partners
MAS Active / MAS Kreeda / MAS Bodyline
G-Star Raw C.V.
Arvind Limited
LC Waikiki
Gokaldas Exports Limited
Boardriders Asia Sourcing Limited
OVS Hong Kong Sourcing Ltd.
Hirdaramani International Export Private Limited
Splash
Tchibo GmbH
Sportswear Company Spa
Truetzschler India Private Limited
Chori Company Limited
Bluestem Global Sourcing Limited
BIANCA
Vianney Textil Hogar S.A. De C.V.
Tory Burch Hong Kong Ltd
Restoque S.A.
Lacoste (Wanchai)
Sateri (Jiujiang) Fiber Co.,Ltd
IDH – The Sustainable Trade Initiative
Permoda(Koaj/Armi/Pronto/Bkul)
KIABI
SYNERGIES HONG KONG LIMITED
Vardhman Textile Ltd
Desigual - ABASIC, S.A.
Phong Phu international JSC (PPJ)
Gatsby Africa
Eastman Chemical Company
Esprit Europe Services GmbH
Rayonese Textile Inc., Division de Culp Inc.
Amazon China
Rosset ;& Cia Limited
THE BOMBAY DYEING ;& MFG.CO. LTD
Lifestyle
Calvin Klein
Decathlon
The Top Form Brassiere Manufacturing Company Limited
Chico’ FAS
Reiter India Private Limited
C;&A Sourcing International Ltd
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Helly Hansen Far East Ltd
Midas Clothing Limited
Asos
Babyshop
Grasim Industries Limited
TESCO INTERNATIONAL SOURCING LIMITED
Landmark Group
Aquarelle Clothing Limited
Etam Group Strategy Hong Kong Limited
Groz-Beckert East Asia LLP
KAS Direct Sourcing
Hela Clothing Pvt Ltd
IKEA of Sweden AB
Page Industries Limited (Bangalore)
Aramark Uniform ;& Career Apparel, LLC
PVH Corporation
Huntsman (Singapore) Pte Ltd
Lululemon Athletica Inc
Tommy Hilfiger
Benetton Group
Varner AS Retail
Lisa S.P.A.
Puma
Lenzing Aktiengesellschaft
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
Brandix Lanka Limited
The LYCRA Company Singapore  Pte. Ltd
International Textile Manufacturers Federation
Alison Hayes Romania
T.T. Limited
Gloria Jeans
John Varvatos

January 2022

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


Advanced Search