US: Under Armour raises FY outlook on Q3 profit surge
- Q3 net profit up 33% to US$34.9m
- Net revenues up 22% to $328.6m
- Company raises FY revenues, earnings outlook
Sportswear specialist Under Armour raised its full-year sales and earnings outlook after posting a 33% third quarter profit rise and 22% sales surge.
The company registered “strong growth” across its men’s, women’s and youth apparel categories, despite an expected decline in footwear revenues.
“Third quarter results demonstrate our growth engines remain strong,” said Kevin Plank, chairman and CEO of Under Armour.
“Importantly, we see significant opportunities ahead to broaden our consumer reach, supported by continued growth in both our wholesale apparel and direct-to-consumer channels.”
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