Stephen Curry helps propel Under Armour to billion dollar quarter

Under Armour continued its winning ways in the first quarter, beating sales and earnings forecast as net revenue rose 30%. The brand has had 24 consecutive quarters — six years — of sales growth of more than 20%.



Sales rose to $1.05 billion for the quarter that ended March 31, up from $805 million in the first three months of last year. The company noted that footwear sales soared more than 60% to $264 million amid the popularity of NBA superstar Stephen Curry’s signature basketball shoe line and expanded running offerings.



Net income soared 63% to $19 million, or 4 cents per share, compared with $12 million, or 3 cents per share, in first quarter 2015.



“We are incredibly proud of our start to 2016 with first quarter net revenue growth of 30 percent," said Kevin Plank, company chairman and CEO. "The strong results posted this quarter truly demonstrate the balanced growth of our brand across product categories, channels and geographies.