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Under Armour revenue up 1% to $1.2 bn in Q2 2019

31
Jul '19
Pic: Under Armour
Pic: Under Armour
Under Armour, Inc, has recorded revenue of $1.2 billion in the second quarter of 2019 ending June 30, 2019, up 1 per cent from that recorded in the same period of 2018. The wholesale revenue of the company decreased 1 per cent to $707 million and direct-to-consumer revenue was up 2 per cent to $423 million, representing 35 per cent of total revenue.

Revenue for North America decreased 3 per cent to $816 million and the international business increased 12 per cent to $339 million, representing 28 per cent of total revenue. Within the international business, revenue was up 6 per cent in EMEA, up 23 per cent in Asia-Pacific and down 3 per cent in Latin America. Apparel revenue decreased 1 per cent to $740 million, footwear revenue increased 5 per cent to $284 million and accessories revenue was unchanged at $106 million, said Under Armour in a press release.

“Our second quarter results give us increasing conviction that our transformation continues to make solid progress across our business, unlocking efficiencies that are driving greater precision, consistency and repeatability,” said Under Armour chairman and CEO Kevin Plank. “By staying sharply focused on our long-term strategies – driving our premium athletic brand positioning through industry leading innovation, geographic expansion and creating deep connections with our consumers – we are on track to deliver against our expectations in 2019.”

For fiscal 2019, the revenue expected by the company is approximately 3 to 4 per cent reflecting a slight decline in North America and a low to mid-teen percentage rate increase in the international business. Gross margin is expected to increase approximately 110 to 130 basis points compared to 2018. Operating income is now expected to reach approximately $230 million to $235 million versus the previously expected range of $220 million to $230 million. (PC)

Fibre2Fashion News Desk – India


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