Under Armour net revenue, online sales jump in Q3

Amid “sluggish retail conditions,” Under Armour posted gains for the third quarter.



Under Armour’s net revenues increased 22% in third quarter 2016 ended Sept. 30, 2016, to $1.47 billion compared $1.20 billion for the same period last year. Net income increased 28% to $128 million, compared with $100 million for third quarter last year.



Direct-to-consumer net revenues grew 29% year-over-year to $408 million, compared to $316 million in the prior year's period.



Overall, these gains mark the brand’s 26th consecutive quarter of 20%-plus revenue growth, according to a company statement.



“Within direct-to-consumer, we launched three new e-commerce sites, bringing our total to 30 global sites, as we focus on expanding brand experience and premium offerings for consumers wherever they shop,” said the brand’s chairman and CEO Kevin Plank.



Under Armour’s gross margin slipped for the third quarter to 47.5%, compared with 48.8% in the prior year's period. The drop reflects negative impacts from the timing of liquidation, increased promotions, and foreign exchange rates, according to a company statement.