Under Armour has posted a 91% revenue jump to $1.4bn for Q2 ended June 30. Considering the performance, the company has raised its FY21 revenue outlook up to a low 20s percentage rise against high teens previously.
The owner of Tommy Hilfiger and Calvin Klein is focusing on its flagship labels and has sold its heritage brands for $220 million, in a deal that has made Authentic Brands (ABG) a specialist in formal American menswear.
This week, following in the footsteps of mighty conglomerates like LVMH and Kering, New Guards launched its own eyewear division, spearheaded by Francesco Ragazzi, the creative director and founder of Palm Angels.
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 US and Asia fueled demand for its sports shoes and apparel.
At least three Chinese celebrities on Saturday dropped German fashion house Hugo Boss, the latest foreign brand caught in a concerted boycott by Chinese consumers over Western accusations of forced labour in Xinjiang.
Eyewear giant Safilo has reported Q4 and full-year results and in the light of the pandemic, the figures look good. It managed a Q4 sales rise and adjusted EBITDA also rose, even though the full year was loss-making.