Under Armour's sales soared by 23 percent to $384 million for the first quarter of this year, with similar growth rates for apparel and footwear. The company said that the rise was partly driven by new products, like Cold Black and Armour Bra. Under Armour's gross margin dipped by 0.8 percentage points to 45.6 percent for the quarter, but the group reduced its marketing expenses to 11.5 percent of sales, down by 1.8 percentage points. It ended the quarter with net income of $15 million, up by 21 percent. The performance encouraged Under Armour to upgrade its forecast for the full year, estimating that its sales will jump by 21 to 22 percent, while its operating income will inflate by 25 to 26 percent.

Topics