Under Armour today said that its Q2 '14 profits "remained unchanged, meeting analysts' expectations, while sales soared" 34%, according to Lorraine Mirabella of the Baltimore SUN. UA added that its net income of $18M "remained flat, reflecting previously planned marketing and brand innovation expenses." Net revenue increased to $610M "in the three months that ended June 30," compared with $455M in Q2 '13. Apparel sales jumped 35% to $420M, compared with $310M "in the year-earlier period as the brand increased offerings in golf, outdoor, running, training and women's studio categories." Footwear sales climbed 34% to $110M, "led by new running shoes." The company "boosted its sales forecast for the year" to a range of $2.98-3B, or growth of as much as 29% from the previous year (BALTIMORESUN.com, 7/24
). The WALL STREET JOURNAL's Anna Prior noted UA "has notched strong growth as new apparel, well-received new footwear offerings, and a renewed focus to win over more female consumers have boosted its revenue." Company Founder, Chair & CEO Kevin Plank in April said that the running category "will be the biggest revenue opportunity for Under Armour in the future.
" The bulk of UA's sales "comes from North America, with sales from that region growing 30% in the quarter." Int'l sales, which UA has "called its biggest growth opportunity, more than doubled" to $51.6M in the latest quarter (WSJ.com, 7/24
). REUTERS notes UA "has beaten Wall Street profit forecasts for the past two years" (REUTERS, 7/24
). At presstime, shares of UA were trading at $69.68 per share, up 15% from the close of business on Wednesday (THE DAILY