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Under Armour eyes digital gains, posts record results

Industry News | February 20, 2015 | By:

High-performance sportswear maker Under Armour has posted a 32 percent increase in sales for 2014 to $3.1 billion and has announced its intentions to create the world’s largest digital health and fitness community. The Baltimore, Md.-based company has purchased Endomondo and MyFitnessPal to add to its MapMyFitness Community, creating a community of 120 million unique users.

Fourth-quarter apparel net revenues increased 30 percent to $708 million, driven primarily by new offerings across training, hunting and studio, including expanded platform innovations in ColdGear Infrared, Storm and Charged Cotton, the company reported. Footwear net revenues increased 55 percent to $86 million in the same quarter, led by expanded offerings in running and basketball. Accessories net revenues increased 22 percent to $79 million from $65 million in the prior year’s period.

The company expects 2015 net revenues of approximately $3.76 billion, representing growth of 22 percent over 2014 and 2015 operating income in the range of $397 million to $407 million, representing growth of 12 percent to 15 percent over 2014.

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