×
176
Fashion Jobs
H&M
E-Commerce Commercial Manager
Permanent · NEW DELHI
H&M
Area Facility Manager
Permanent · NEW DELHI
SAROJ JALAN
Marketing Strategist
Permanent · KOLKATA
ADD UR CO LLP
Production Manager
Permanent · Chennai
THE GLOBAL ZONE HR SERVICES
Production Manager/ Supervisor/ Incharge
Permanent · Pune
PUMA
Manager - Digital Marketing
Permanent · Bengaluru
THE BANYAN HR CONSULTS
Brand Manager For Leading Women's Wear Garments CO at Coimbatore
Permanent · Coimbatore
LEVI'S
Manager, Retail Merchandising (Ebo)
Permanent · Bengaluru
GLAN MANAGEMENT CONSULTANCY
Senior Buyer Lingerie (Knits Western Wear) - Retail Brand
Permanent · GURUGRAM
JOB INDIA
Asst. Manager E-Com Operations (Garments Retail) Gurgaon
Permanent · Faridabad
VASTRAKALA EXPORTS
Quality Manager
Permanent · CHENNAI
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Manager / in Charge - Production/Quality/Cutting - Garments Industry
Permanent · Bhiwandi
MINT AND MILK COMMUNICATIONS
Senior Account Executive
Permanent · MUMBAI
PUMA
Manager- Buying (Apparel)
Permanent · Bengaluru
PUMA
Manager- Business Intelligence
Permanent · Bengaluru
PUMA
Manager- Trade Compliance
Permanent · Bengaluru
LEVI'S
Technical Product Manager
Permanent · Bengaluru
PUMA
Manager- Supply Planning
Permanent · Bengaluru
PUMA
Senior Manager - Performance Marketing- Marketplac…
Permanent · Bengaluru
PUMA
Regional Sales Manager- Mbo (South)
Permanent · Bengaluru
PUMA
Manager- Returns And Spf Operations
Permanent · Bengaluru
PUMA
Manager Merchandising
Permanent · Bengaluru
By
Reuters
Published
May 4, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Under Armour raises annual forecast as reopening of economies lifts demand

By
Reuters
Published
May 4, 2021

Under Armour Inc raised its expectations for annual profit and sales on Tuesday, after reporting a 35% jump in revenue as the reopening of economies in the United States and Asia fueled demand for the company’s sports shoes and apparel.


Photo: Under Armour - Under Armour



The rollout of COVID-19 vaccines and new rounds of government stimulus lifted consumer confidence for discretionary spending this year, helping Under Armour post a 32% increase in quarterly revenue from North America.

Revenue from the company’s international segment surged 58%.

Under Armour said it would spend more on marketing its brand, stores and website, to take advantage of recovering markets, including North America, China and Germany.

It expects marketing and incentive compensations to make up about three quarters of the increase in costs this year.

Still, the sportswear maker lifted its full-year adjusted earnings per share forecast to between 28 cents and 30 cents, from 12 cents to 14 cents.

It expects full-year revenue to rise by a high-teens percentage, compared with a previous outlook of a high single-digit percentage increase. The company forecast second-quarter revenue to rise about 70% after store closures hammered sales a year ago.

Under Armour, like rival Nike Inc, also flagged transportation and logistics problems caused by the COVID-19 pandemic.

Under Armour’s shares fell 2.3% to $23.60 in choppy trading. Its stock has risen about 40% this year.

“There are still industry issues to look out for such as issues with ports. It’s not that the consumer doesn’t want the product but we’re seeing issues with getting the product in store,” said Jessica Ramirez, retail analyst at Jane Hali & Associates.

Under Armour’s first-quarter net revenue rose to $1.26 billion, beating estimates of $1.13 billion, according to IBES data from Refinitiv.

The company earned 16 cents per share, on an adjusted basis, beating estimates of 3 cents per share.

© Thomson Reuters 2022 All rights reserved.