Dallas, Texas 05/01/2014 (FINANCIALSTRENDS) – International sales grow in 1Q, 2014
For a company based in the US, the volume of sales outside the country is extremely crucial. This has been the main driver for Under Armour Inc. (NYSE:UA).
The company’s global operations only have a 9% share in its overall business volumes. Yet, recent results showed that this business grew by 79% in 1Q, 2014. The company earned $472 million in 1Q, 2013 from its overseas markets. This amount increased to $642 million in 1Q, 2014. In his interaction with investors, CEO Kevin Plank stated that the first three months of 2014 showed equal growth in all their global markets.
Continued expansion will help bring in more sales
UA has a presence in China, Europe and Latin America. The sales figures released by the company show a growth in France, Germany and United Kingdom. The company is expected to cross the $100 million figure in the European market. This is the first time that the company will achieve this ever since it entered the market in 2006.
Plank stated that UA was spending a lot on marketing the brand in the European market. They have also signed an advertising deal with Tottenham Hotspur. This is a football club based out of England. He said that this was crucial for brand awareness.
UA wants to expand its presence in the Chinese market. They are looking to add a total of fifty stores by the end of 2014. The company wants to have a presence in ten cities as compared to the two Chinese cities it is based in. They also purchased a subsidiary in Mexico as well as entered two new markets in Chile and Brazil in 2014.
UA is also looking to enter markets like Southeast Asia and the Middle East by the end of 2014. However, there was no indication of the locations the company was targeting these markets.
This report is for information purposes only, and is neither a solicitation or recommendation to buy nor an offer to sell securities. Financials Trend is not-a-registered-investment-advisor. Financials Trend is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. Financials Trend accepts no liability for any losses arising from an investor's reliance on the use of this material. Financials Trend sometimes gets compensated up to one hundred and fifty thousand dollars per month for featuring particular stocks. See site disclaimer for complete compensation. Financials Trend and its affiliates or officers currently hold no shares of these stocks. Financials Trend and its affiliates or officers will purchase and sell shares of common stock of these stocks, in the open market at any time without notice. Financials Trend will not update its purchases and sales of these stocks in any future postings on Financials Trend's websites. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *Financials Trend does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.