UNDER ARMOUR: strong Q2 prompts higher guidance
AFTER a strong second quarter, when its sales rose by 34 per cent to USD 598m, with a 35 per cent gain in textile products, and net profit rose to USD 17m, functional bodywear chain Under Armour raised its 2014 full year guidance, with sales in the range of USD 2.88bn to USD 2.91bn and operating income reaching around USD 344m. The predictions represent an increase of around 25 per cent in both sales and earnings. Although still accounting for only 8 per cent of the total, sales outside the US, where the chain has been expanding steadily, mushroomed by 80 per cent in the quarter, reaching about USD 40m.
New marketing initiatives being implemented or prepared promise further substantial gains in coming quarters.