Under Armour is a big name in athletic apparel world. The company has worked with many other companies to partner for the betterment of the athletes world. The company was almost bankrupted when Sports Authority tumbled in stocks. The company had a loss of $52.6 million in its second quarter.
Under Armour faced a serious loss but somehow managed to bounce back with the help of investors. In their quarterly report, Under Armour called losses in revenue a “one-time impairment” and still has hopes for 2016. The athletic apparel company is also looking to expand its digital fitness and their clothing sales left after the big merger loss.
Due to the Steph Curry Basketball shoe line, Under Armour has seen about 58% growth in the sports shoe sales. On the other hand, sports apparels are also growing in number. Shoes, clothing and the accessories by the company faced an overall raise by 21%.
Coming to the current plans of the company and its hopes to expand, Under Armour is building its feet in the digital products. With new ideas in Smart shoes, wearables, fitness trackers and smart clothing line, the company is basically focusing its energies on athletes.
The current project of the company is UA Health box which consists of a heart rate monitor, scale and a fitness tracker. The company is buckled up to focus on health and especially athletes. The purpose of this health box is to help way beyond sleep and heart rate. Under Armour is currently serious with all the changes happening inside it and the wearables produced by the company. Watch the video to know more about company’s plans!