{"id":27105,"date":"2016-01-28T16:16:28","date_gmt":"2016-01-28T22:16:28","guid":{"rendered":"http:\/\/news.medill.northwestern.edu\/chicago\/?p=27105"},"modified":"2016-01-28T16:16:28","modified_gmt":"2016-01-28T22:16:28","slug":"shooting-hoops-with-under-armour-inc","status":"publish","type":"post","link":"https:\/\/news.medill.northwestern.edu\/chicago\/shooting-hoops-with-under-armour-inc\/","title":{"rendered":"Shooting hoops with Under Armour Inc."},"content":{"rendered":"

By Poroma Pant <\/strong><\/p>\n

Under Armour Inc. stock surged 22 percent to $84.07 following\u00a0sharply higher earnings and revenue\u00a0that beat analysts\u2019 expectations.<\/p>\n

Net income increased 21 percent in the fourth quarter of 2015 to $106 million, or 48 cents per diluted share,\u00a0from $88 million, or 40 cents per share,\u00a0in the prior year’s period. Analysts estimated 46 cents.<\/p>\n

Revenue increased 31 percent to $1.17 billion from $895 million, above analyst estimates of $1.12 billion.<\/p>\n

<\/p>\n

Unsurprisingly,\u00a0the company’s\u00a0apparel line continued\u00a0to record\u00a0strong sales, up\u00a022 percent to\u00a0$865 million from $708 million. It was the 25th consecutive quarter of more than 20 percent sales growth in apparel, by far\u00a0the company’s biggest product category.<\/p>\n

Its biggest percentage\u00a0growth, however, was in\u00a0shoes,\u00a0a 95 percent increase to $167 million from $86 million, primarily from \u201cthe success of the Curry signature basketball line and expanded running offerings”.<\/p>\n

Golden Warriors star Stephen Curry has proven to be a gold mine for the company. \u201cThe sell-through on the Curry Two was like nothing we\u2019d ever seen before, which is the same thing people say after they see Curry play,\u201d\u00a0said CEO\u00a0Kevin Plank during the earnings call.<\/p>\n

Following the release of\u00a0the report, analysts continued to cheer from the frontlines. Mizuho Securities USA Inc. stated,\u00a0\u201cWe reiterate our Buy rating on UA shares as a solid 4Q beat and forward guidance suggest the company continues to gain market share in the core apparel and footwear categories.\u201d
\nSusan Anderson of FBR & Co. stated in her report, \u201cWe believe the 2016 revenue guide will once again prove conservative given the footwear opportunity (price realization\/unit growth), international expansion opportunities, and elevated DTC execution. We continue to see revenue growth of ~30% over the next several years.\u201d
\nWhile international sales account for the fastest growing segment,\u00a0a 70 percent increase, gross margins fell to 48 percent from 49.9 percent, under pressure from unfavorable currency translation linked to the strong dollar.<\/p>\n

Total debt\u00a0jumped to\u00a0$669 million compared with $284 million\u00a0a year earlier, attributed to acquisition of Connected Fitness during the quarter. CEO Plank\u00a0stated, \u201cIn Connected Fitness, we ended 2015 with nearly 160 million unique registered users across our platform that logged nearly 8 billion foods and 2 billion activities during the year.”<\/p>\n

He elaborated that “earlier this month at the Consumer Electronics Show, we unveiled the new UA Record, the digital dashboard app for your health & fitness, and a suite of new products led by Under Armour HealthBox, the world’s first complete Connected Fitness system.\u00a0 Working seamlessly together, these products create the framework for all athletes to measure their health & fitness.\u201d<\/p>\n

Under Armour said\u00a0it expects sales\u00a0to grow to $4.95 billion in 2016, a growth of 25 percent. This year will mark Under Armour’s 20th anniversary.<\/p>\n

Under Armour’s sneaker sales soar in its last quarter. (BrightKicks<\/a> \/ YouTube )<\/div>\n","protected":false},"excerpt":{"rendered":"

By Poroma Pant Under Armour Inc. stock surged 22 percent to $84.07 following\u00a0sharply higher earnings and revenue\u00a0that beat analysts\u2019 expectations. Net income increased 21 percent in the fourth quarter of 2015 to $106 million, or 48 cents per diluted share,\u00a0from $88 million, or 40 cents per share,\u00a0in the prior year’s period. Analysts estimated 46 cents. […]<\/p>\n","protected":false},"author":268,"featured_media":27180,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,28,31,585],"tags":[],"class_list":["post-27105","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-general-interest","category-sports","category-winter-2016"],"yoast_head":"\nShooting hoops with Under Armour Inc. - Medill Reports Chicago<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/news.medill.northwestern.edu\/chicago\/shooting-hoops-with-under-armour-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shooting hoops with Under Armour Inc. - Medill Reports Chicago\" \/>\n<meta property=\"og:description\" content=\"By Poroma Pant Under Armour Inc. stock surged 22 percent to $84.07 following\u00a0sharply higher earnings and revenue\u00a0that beat analysts\u2019 expectations. 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