
Under Armour Inc forecast full-year profit below estimates on Friday, as the sportswear maker grapples with higher transportation costs and a hit to its business from renewed Covid-19 curbs in China.
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Under Armour Inc forecast full-year profit below estimates on Friday, as the sportswear maker grapples with higher transportation costs and a hit to its business from renewed Covid-19 curbs in China.
In Q1 2022, the Italian eyewear group recorded net sales of €282.6 million, up by 8.4% at constant rates. Gross income was on the rise too, up by 23%, as were gross margin, at 55%, and adjusted EBITDA, at 11.3%.
Sportswear brand Under Armour has appointed Underdog Athletics as its exclusive distributor and licensee in the Indian market.
Major clothing and shoe companies are moving production to countries closer to their U.S. and European stores, smarting from a resurgence in cases of coronavirus in Asia that slowed production earlier this year.
Sportswear brand Under Armour has strengthened its retail presence with the opening of a new store in the city of Mumbai at the Jio World Drive Mall.
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.
Sports brand Under Armour has signed Indian mixed martial arts athlete Ritu Phogat as one of the athletes which the brand will work in the Indian market.
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.