The US sporting goods supplier Under Armor Inc. closed the 2023 financial year with an increase in sales and profits. As can be seen from the annual report published on Tuesday, sales rose by three percent compared to the previous year. An increase of more than 100 million US dollars (91.28 million euros) was achieved in net profit.
Sales rose to 5.9 billion US dollars (about 5.4 billion euros). The company recorded the largest increase in the EMEA region (Europe, Middle East and Africa), where sales increased by 13 percent. Latin America followed with an increase of 11 percent and sales in the Asia-Pacific region increased by 3 percent. In the home market of North America, on the other hand, sales fell by one percent.
Broken down by the different categories that Under Armor, Inc. operates in, the largest revenue came from apparel sales at $3.9 billion. With shoes, the company achieved sales of 1.5 billion US dollars (1.4 billion euros) with an increase of 15 percent. Accessories sales increased 7 percent to $409 million. (around 373.6 million euros).
Net income for the fiscal year was $387 million (around €353.5 million). In the previous fiscal year it was still 222 million US dollars (202.8 million euros).
This translated post previously appeared on FashionUnited.nl.