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Under Armour Cites 4q Increase

(Filed Under Financial and General Interest News). Under Armour, Inc., a developer, marketer and distributor for branded activewear, footwear and accessories, has announced a net revenue increase of 2.5 percent in the fourth quarter ended December 31, 2008 compared to the same period in 2007.

Net revenues rose to $179.3 million compared to $174.8 million in the fourth quarter of 2007.

According to the company, "fourth quarter apparel net revenues were impacted by a slowdown in the U.S. wholesale business primarily due to lower levels of at-once orders and increased cancellations and returns on a year-over-year basis. Net revenues in the direct-to-consumer channel grew 47.4 percent during the fourth quarter, helping to offset the impact of the wholesale channel."

In addition, net revenues for the end of the fiscal year increased by 19.6 percent to $725.2 million from $606.6 million in 2007.

"In a retail environment marked by heavy promotional levels, we have preserved our brand and pricing integrity and continue to be one of the top performing brands in our distributions," said Kevin Plank, chairman and CEO of Under Armour, Inc.

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Published 02-06-2009 by Bruna Fernandes

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