Un­der Ar­mour rev­enue up by 9%

Shoes & Accessories - - The Month That Was Updates | International -

“Our sec­ond quar­ter per­for­mance val­i­dates the strength of our mul­ti­ple growth levers to de­liver solid re­sults in to­day’s dy­namic global en­vi­ron­ment”, stated Un­der Ar­mour Chair­man and CEO Kevin Plank, adding: “More than dou­bling our busi­ness over the last three years has re­quired sig­nif­i­cant in­vest­ments and re­sources to build our brand. We are uti­liz­ing 2017 to en­sure that op­er­a­tions across our di­verse port­fo­lio of sport cat­e­gories, dis­tri­bu­tion chan­nels and ge­ogra­phies are op­ti­mized as we are build­ing a stronger, faster and smarter com­pany.” In the sec­ond quar­ter, rev­enue was up by 9% to­tal­ing 1.1 bil­lion US dol­lars, up by 8% cur­rency neu­tral. Rev­enue to whole­sale cus­tomers rose by 3% and reached 655 mil­lion US dol­lars and di­rect-to-con­sumer rev­enue was up by 20 per­cent to 386 mil­lion US dol­lars. A dy­namic and pro­mo­tional re­tail en­vi­ron­ment in North Amer­ica con­tin­ued to tem­per re­sults with rev­enue in line with last year’s same pe­riod. Out­side North Amer­ica, the strong mo­men­tum con­tin­ued with in­ter­na­tional rev­enue up by 57% (up by 54% cur­rency neu­tral), rep­re­sent­ing 22% of to­tal rev­enue. Rev­enue in­creased across the board within the in­ter­na­tional busi­ness: +57% in EMEA (+53% cur­rency neu­tral), +89% in Asia-pa­cific (+87% cur­rency neu­tral) and +10% in Latin Amer­ica (+9% cur­rency neu­tral). Ap­parel rev­enue in­creased by 11% to 681 mil­lion US dol­lars re­flect­ing strength in men’s and women’s train­ing, and golf. Footwear rev­enue was down by 2% to 237 mil­lion US dol­lars, against last year’s same pe­riod which was up by 58%. Ac­ces­sories rev­enue in­creased by 22% to 123 mil­lion US dol­lars with strength in men’s and women’s train­ing, and youth per­for­mance. Un­der Ar­mour now ex­pects net rev­enue to grow 9% to 11% ver­sus the pre­vi­ous ex­pec­ta­tion of 11% to 12 % growth, re­flect­ing mod­er­a­tion in the com­pany’s North Amer­i­can busi­ness.

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