Under Armour's Revenue Increased 22% to $4.8 Billion In 2016
Under Armour Reports Fourth Quarter and Full Year Results; Announces Outlook for 2017
- 2016 revenues increased 22 percent to $4.8 billion (up 23 percent currency neutral).
- 2016 footwear and women's businesses both hit $1 billion mark.
- 2016 operating income up 3 percent to $420 million.
- 2017 revenue expected to increase 11 to 12 percent to nearly $5.4 billion.
Golf and basketball apparel sales are growing for Under Armour, Inc. (NYSE: UA, UAA).$929 million in revenue from these two categories in the 4th quarter. In 2016 Under Armour's revenues were 4.8 billion,an increase of 23%. Running and basketball shoe revenue grew 36 percent to $228 million in the fourth quarter. The press release stated that David Bergman, Senior Vice President, Corporate Finance is replacing Under Armour's Chief Financial Officer, Chip Molloy. Trendy design is leading Under Armour to more sales. Their stylish apparel design made them the official uniform supplier for professional sports teams and college football teams like Auburn, Hampton, Navy and the my alma mater Temple University, said the Baltimore Sun.
Under Armour, Inc. Chairman and CEO Kevin Plank, in a press release today, discussed Under Armour, Inc.'s revenue.
- 2016 revenues increased 22 percent to $4.8 billion (up 23 percent currency neutral).
- 2016 footwear and women's businesses both hit $1 billion mark.
- 2016 operating income up 3 percent to $420 million.
- 2017 revenue expected to increase 11 to 12 percent to nearly $5.4 billion.
Golf and basketball apparel sales are growing for Under Armour, Inc. (NYSE: UA, UAA).$929 million in revenue from these two categories in the 4th quarter. In 2016 Under Armour's revenues were 4.8 billion,an increase of 23%. Running and basketball shoe revenue grew 36 percent to $228 million in the fourth quarter. The press release stated that David Bergman, Senior Vice President, Corporate Finance is replacing Under Armour's Chief Financial Officer, Chip Molloy. Trendy design is leading Under Armour to more sales. Their stylish apparel design made them the official uniform supplier for professional sports teams and college football teams like Auburn, Hampton, Navy and the my alma mater Temple University, said the Baltimore Sun.
"We are incredibly proud that in 2016, we once again posted record revenue and earnings, however, numerous challenges and disruptions in North American retail tempered our fourth quarter results," said Kevin Plank, Under Armour Chairman and CEO. "The strength of our Brand, an unparalleled connection with our consumers and the continuation of investments in our fastest growing businesses -- footwear, international and direct-to-consumer -- give us great confidence in our ability to navigate the current retail environment, execute against our long-term growth strategy and create value to our shareholders."
"Looking forward, our successful track record of re-defining performance gives us great confidence that the opportunities for long-term growth at Under Armour have never been greater," said Plank. "The current environment represents an inflection point to maximize our unique strengths by staying on offense -- investing smartly in innovation, deepening our Brand connection with consumers and amplifying our focus on operational excellence -- positioning Under Armour as a stronger company."
Under Armour's goal is 10 billion dollars in revenue in 2017.
-- Stephanie
