Under Armour post 28% net revenue growth

By iSportconnect | July 26, 2016

Under Armour have reported a 28% year on year increase in revenues during the second quarter, thanks in large part to the NBA’s reigning MVP Steph Curry.

“Footwear net revenues increased 58% to $243 million from $154 million in the prior year’s period, primarily reflecting the continued success of the basketball category led by the Curry signature basketball line as well as growth in running and cleated categories,” Under Armour said in a statement.

Curry’s remarkable season with the Golden State Warriors has put Under Armour in the spotlight, as the the brand’s leading ambassador. 

As well as increased footwear revenue, sales of fitness tracking devices rose by 73% to $24 million.

Overall revenue surged to $1 billion from $783.6 million.

They also reported that its international net revenues were up 68% YoY. Many have identified Under Armour’s need to grow stronger internationally, this quarter’s results seem to show that Under Armour are taking that aim seriously.