Under Armour has just announced their earnings for the start of the year and let’s just say, they’re sensational.
Under Armour continues to rise as a brand with the emergence of Stephen Curry as a representative and it has been reported by their team they racked in $1.047 billion in the first quarter, surpassing analyst predictions of $1.036 billion. Under Armour’s earning revenue also doubled 0.04, an important number which might help them see an increase on their stock grade.
Under Armour has made $264 million in net revenue, a 64 percent increase from last year where they made $161 million in footwear earnings. Curry is definitely the main reason behind the sales increase at Under Armour, one of their main athletes along with Tom Brady, Cam Newton and Jordan Spieth.
Under Armour CEO Kevin Plank had a thing to say about the sales increase at the brand.
“The strong results posted this quarter truly demonstrate the balanced growth of our brand across product categories, channels and geographies,” Chairman and CEO Kevin Plank said. “It also showcases our heightened focus on providing better service across our distribution channels, ensuring that our consumer consistently finds the newest, most premium product from us wherever they shop.”