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Under Armour, a distributor of branded athletic performance apparel in the US, has reported an 8.0 per cent revenue surge to $1.5 billion in the third quarter (Q3) of FY21 ended September 30, 2021, over the same period of 2020. The company’s net income during the three-month period escalated to $113.4 million (Q3 FY20: $38.9 million).
Under Armour, a distributor of branded athletic performance apparel in the US, has reported an 8.0 per cent revenue surge to $1.5 billion in the third quarter (Q3) of FY21 ended September 30, 2021, over the same period of 2020. The company’s net income during the three-month period escalated to $113.4 million (Q3 FY20: $38.9 million).
“Our third-quarter results were driven by strong demand for the Under Armour brand and our ability to execute quickly to meet the needs of our consumers and customers,” Patrik Frisk, Under Armour president and CEO, said in a press release.
Under Armour, a distributor of branded athletic performance apparel in the US, has reported an 8.0 per cent revenue surge to $1.5 billion in the third quarter (Q3) of FY21 ended September 30, 2021, over the same period of 2020. The company’s net income during the three-month period escalated to $113.4 million (Q3 FY20: $38.9 million).
During the third quarter, gross profit accelerated to $788.1 million ($686.3 million), while income from operations almost tripled to $172.0 million ($58.6 million).
Under Armour, a distributor of branded athletic performance apparel in the US, has reported an 8.0 per cent revenue surge to $1.5 billion in the third quarter (Q3) of FY21 ended September 30, 2021, over the same period of 2020. The company’s net income during the three-month period escalated to $113.4 million (Q3 FY20: $38.9 million).
By product category, apparel sales grew 14.2 per cent to $1.0 billion ($927.0 million), and footwear sales recorded a 10.4 per cent rise to $329.7 million ($298.7 million).
Under Armour, a distributor of branded athletic performance apparel in the US, has reported an 8.0 per cent revenue surge to $1.5 billion in the third quarter (Q3) of FY21 ended September 30, 2021, over the same period of 2020. The company’s net income during the three-month period escalated to $113.4 million (Q3 FY20: $38.9 million).
Additionally, the sports clothing provider’s sales in North America region during Q3 went up 7.6 per cent, clocking $1.0 billion. Moreover, sales in EMEA, Asia Pacific, and Latin America regions increased in double digits to $241.2 million, $211.9 million, and $56.4 million, respectively.
Under Armour, a distributor of branded athletic performance apparel in the US, has reported an 8.0 per cent revenue surge to $1.5 billion in the third quarter (Q3) of FY21 ended September 30, 2021, over the same period of 2020. The company’s net income during the three-month period escalated to $113.4 million (Q3 FY20: $38.9 million).
In its outlook, Under Armour raised its revenue expectations to approximately 25 per cent compared to the previous expectations of low-twenties, reflecting a high-twenties percentage growth rate in North America and a mid-thirties percentage growth rate in the international business.
Under Armour, a distributor of branded athletic performance apparel in the US, has reported an 8.0 per cent revenue surge to $1.5 billion in the third quarter (Q3) of FY21 ended September 30, 2021, over the same period of 2020. The company’s net income during the three-month period escalated to $113.4 million (Q3 FY20: $38.9 million).
“With industry-leading innovations, increased marketing efforts to deepen our connection with focused performers, and consistent operational discipline – we’re building greater brand affinity and are on track to deliver record revenue and earnings results in 2021,” Frisk concluded.
Fibre2Fashion News Desk (JL)
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