Under Armour, a sportswear store based in the United States, reported a 91% increase in revenue in the second quarter, totaling US $ 1.4 billion. All of this despite an 18% drop in the retailer’s e-commerce sales during the quarter ending 30 June 2021.
During the same year, the retailer’s wholesale sales increased by 157% to US $ 768 million, while direct-to-consumer revenue increased by 52% to US $ 561 million. Notably, in-store revenues more than compensated for the decline in internet sales.
Under Armour, the world’s largest maker of sportswear, has reported a sharp rise in revenue for the second quarter of. Apparel revenue jumped by a whopping 105 per cent to clock US $ 874 million, whereas footwear revenue surged by 85 per cent. This was followed by a 133 per cent jump in EMEA and 56 per cent spike in Asia-Pacific. Patrik Frisk, President and CEO, said “We are very pleased with our better-than-expected second-quarter results, which reflect solid progress compared to both 2020 and 2019”