Boosted by a 34.1 percent pickup in its apparel sales, Under Armour Tuesday posted second-quarter earnings that more than doubled from a year ago and beat Wall Street estimates by 4 cents.
The performance-apparel firm said net income for the three months ended June 30 jumped to $3.5 million, or 7 cents a diluted share, from $1.4 million, or 3 cents, in the year-ago quarter. Wall Street analysts were expecting earnings per share of 3 cents, according to Yahoo Finance.
Revenues spiked 24.4 percent to $204.8 million from $164.6 million. By category, apparel sales rose to $150.2 million from $112 million; accessories rose 26.3 percent to $8.9 million from $7 million; footwear fell 4.5 percent to $35.8 million from $37.5 million, and licensing revenues increased 22.3 percent to $9.9 million from $8.1 million. The company said direct-to-consumer revenues grew 60 percent year-over-year, driven in part by new Factory House store growth, strong comparable-store sales and strength in the Web business.
Kevin Plank, chairman and chief executive officer, said on a conference call to Wall Street analysts, “The best and simplest part of the apparel story is that everything was up with strong double-digit growth across men’s, women’s and youth. Our growth is across the board: gender, channel, category, wholesale and direct.”
For the first half, income almost doubled to $10.7 million, or 21 cents a diluted share, from $5.4 million or 11 cents, in the 2009 period. Revenues gained 19.1 percent to $434.2 million from $364.6 million.
With the introduction of its ColdGear fabrication this fall geared to a broader range of consumers and online growth aimed at mobile devices, Under Armour is coming within range of $1 billion in annual revenues. In anticipation of developing into what Plank described as a “multibillion-dollar global platform,” Henry Stafford, previously of American Eagle Outfitters, was brought in to head apparel, and John Rogers, previously with Orvis, joined to oversee e-commerce.
Taking the final spot on the mens’ portion of New York Fashion Week calendar next month will be none other than @tomford. Though he’s shown his men’s wear in New York in the past, this will mark the first time the designer has shown his men’s collection alone during New York Fashion Week: Men’s. His runway show will debut on February 6 at the Park Avenue Armory. #wwdfashion
London-based couture house @ralphandrusso has certainly been in the spotlight, having its dresses worn by @beyonce, Angelina Jolie, Meghan Markle in her engagement photos and more. For couture, Tamara Ralph focused on ornamentation — think: feathers with chain mail, jet embroidery and clusters of pearls and crystals. See the rest of the collection on WWD.com #wwdfashion #couture (📷: @giovanni_giannoni_photo)
Minnie Mouse celebrated her 90th birthday by getting her own star on the Hollywood Walk of Fame. For her celebratory luncheon, @coach’s creative director @stuartvevers dressed her in a custom made prairie dress, complete with Vever’s take on the polka dot – black sequined versions – under a cropped motorcycle jacket. The designer also put his own mark on Minnie’s classic red shoes, infusing the color with sparkles and adding some Coach crystals. “We chose colors that were very Minnie and also represented quintessential Coach elements,” said Vevers. #wwdfashion #nationalpolkadotday (📷: George Chinsee)
@nickjonas is unveiling his first-ever apparel collection through a partnership with John Varvatos. The limited-edition capsule, which makes its debut in spring, also marks the first time the designer has collaborated with anyone on a line. “The process in working with Nick is amazing. It’s inspiring to be around someone who is not only connected with the trade that they do, but also with what’s happening in the environment around him, and how that connects to what we do with style,” said Varvatos. (RG: @johnvarvatos) #wwdfashion
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)