Home / Knowledge / News / Apparel/Garments / Under Armour revenue improves 2% to $1.4 billion in Q4

Under Armour revenue improves 2% to $1.4 billion in Q4

14
Feb '19
Courtesy: Under Armour
Courtesy: Under Armour
The revenue of Under Armour during the fourth quarter of fiscal 2018 increased 2 per cent to $1.4 billion. Apparel revenue went up 2 per cent to $970 million with growth in the train category. Footwear revenue lowered 4 per cent to $235 million, primarily driven by lower sales to the off-price channel. Accessories revenue dropped 2 per cent to $108 million.

North America revenue declined 6 per cent to $965 million while international business increased 24 per cent to $395 million, representing 28 per cent of total revenue. Within the international business, revenue was up 32 per cent in EMEA, up 35 per cent in Asia-Pacific and down 15 per cent in Latin America.

For full year 2018, North America revenue decreased 2 per cent to $3.7 billion and international business increased 23 per cent to $1.3 billion, representing 26 per cent of total revenue. Within the international business, revenue was up 25 per cent in EMEA, up 29 per cent in Asia-Pacific, and up 5 per cent in Latin America.

Apparel revenue inched higher 5 per cent to $3.5 billion with growth primarily driven by the train category. Footwear revenue scaled up 2 per cent to $1.1 billion largely driven by growth in the run category. Accessories revenue was down 5 percent to $422 million due to softer demand and continued actions to optimise our inventory and distribution.

For the full year 2018, the company recognised $204 million of pre-tax charges, inclusive of $50 million in the fourth quarter. Of the $204 million recognised, there were $151 million in cash related charges and $53 million in non-cash related charges. This compared to the previously announced 2018 plan which anticipated approximately $200 to $220 million in restructuring related charges for the full year.

"Our 2018 results demonstrate significant progress against our multi-year transformation toward becoming an even stronger brand and more operationally excellent company," said Under Armour Chairman and CEO Kevin Plank. "As we look ahead to 2019, our accelerated innovation agenda, disciplined go-to-market process and powerful consumer-centric approach gives us increasingly greater confidence in our ability to deliver for Under Armour athletes, customers and shareholders."

For 2019, the company expects revenue to increase approximately 3 to 4 per cent reflecting relatively flat results for North America and a low double-digit percentage rate increase in the international business. Gross margin is likely to improve approximately 60 to 80 basis points compared to 2018 adjusted gross margin due to channel mix benefits from lower planned sales to the off-price channel and a higher percentage of direct-to-consumer sales along with more. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock/humphery

Textiles | On 18th Sep 2021

China wants to join CPTPP; Japan to consult members to respond to bid

Chinese commerce minister Wang Wentao recently submitted an...

Pic: Shutterstock

Textiles | On 18th Sep 2021

Eurozone GDP recovers quicker than expected after lockdowns: EU report

The eurozone economy recovered more rapidly than considered earlier...

Pic: Shutterstock

Apparel/Garments | On 18th Sep 2021

BGMEA urges Canadian buyers to source apparel from Bangladesh

Bangladesh Garment Manufacturers and Exporters Association (BGMEA)...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Switch was not 100% pandemic related

Textile Industry, Head honchos

Textile Industry
Head honchos

Consistency is the first rule of social media

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Cannot see the world breaking away from cotton & polyester

Dhirubhai & Arvind Shah,

Dhirubhai & Arvind Shah

It supplies synthetic fabrics to top international brands like M&S,...

Kriti Kanodia,

Kriti Kanodia

A TV show in 2012 where actor Sonam Kapoor customises her own pair of...

Yawer Ali Shah,

Yawer Ali Shah

Synthetic colours and dyes were all the rage till the very first ban on...

Daniel Roxbury, University of Rhode Island

Daniel Roxbury
University of Rhode Island

Assistant professor Daniel Roxbury and former URI graduate student...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

<b>Anjali Bhaskar</b> has an experience of 12 years in the fashion...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

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


September 2021

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


Advanced Search