The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Under Armour Inc beat quarterly revenue estimates on Wednesday, helped by a surge in online demand from shoppers looking for athletic apparel for workouts, sending its shares up 4 percent in premarket trade.
While the Covid-19 pandemic has led to a fall in attendance at gyms, it has given people more time to workout at home or opt for outdoor exercises including running and biking, leading to a rise in demand for training shoes, running shorts and t-shirts.
With shoppers still limiting trips outside their homes, a large chunk of that demand has come from people shopping online. Under Armour said its e-commerce sales rose 25 percent.
The company’s revenue fell to $1.40 billion from $1.44 billion in the fourth quarter ended December 31, but topped analysts’ estimates of $1.27 billion, according to IBES data from Refinitiv.
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Under Armour also said it expects revenue growth percentage to be in high single-digits in 2021, boosted by growth in its North America as well as international markets.
By Praveen Paramasivam; Editor: Vinay Dwivedi
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.