Life Style

Under Armor continues to grow in the second quarter, raising guidance

NS

Fiber2Fashion

Release



August 4, 2021

Under armor Second-quarter revenue, which ended June 30, increased 91% to $ 1.4 billion. In light of business performance, the company has raised its revenue outlook for FY2009 to a 20% lower rate of increase than its predecessor teens.

“Under Armor’s second-quarter results reflect strong progress compared to both 2020 and 2019, and we are very pleased to be above expectations. With that in mind, we’re raising our outlook for the year, said Patrik Frisk, Under Armor’s president and chief executive officer.

Gross profit for the second quarter almost doubled from $ 349.1 million to $ 668.8 million, and operating profit surged from a loss of $ 169.7 million to $ 121.2 million. The company’s net profit accelerated from a loss of $ 182.9 million to $ 59.2 million.

According to sportswear companies, revenue from North America was up 101.4% to $ 95.5 million and EMEA was up 132.5% to $ 207.2 million. Revenues in Asia Pacific ($ 192.3 million) and Latin America ($ 46.5 million) increased by 56.1% and 317.3%, respectively.

Under Armor, apparel revenue increased 105.3% to $ 874.2 million and shoe revenue increased 85.1% to $ 342.6 million.

“At the midpoint of the fiscal year, we are confident in our ability to execute our strategy by putting Focus Performer at the center of all our operations and enhancing our ability to drive consistent and profitable growth for our shareholders over the long term. “, Frisk concludes.

Under Armor continues to grow in the second quarter, raising guidance

Source link Under Armor continues to grow in the second quarter, raising guidance

Back to top button