During his company’s Feb. 5 fourth-quarter financial results conference call, Plank began by saying it was a “record year” for Under Armour in almost every aspect of the business.
“It was a record year in almost every aspect of our business, enabling us to continue our streak of 19 consecutive quarters of revenue growth over 20% and five consecutive quarters of 30%-plus growth,” Plank said, according to Seeking Alpha. “Heading into 2015, the confidence we have in our apparel and footwear business has never been higher. Our execution never better, and our ambition never stronger. We also announced the formation of the world’s largest Digital Health and Fitness Community with the acquisitions of Endomando and MyFitnessPal, to supplement our existing MapMyFitness and Under Armour record platforms to create Under Armour Connected Fitness. We believe this positioned Under Armour to meaningfully benefit as the world of technology and health and fitness intersect, creating new ways of connecting with athletes, building equity for our brand and additional levels of trust with our consumers.”
Under Armour eclipsed the $3 billion revenue mark in 2014, which was a major milestone for the brand.
“We had a tremendous year in our core apparel business, growing total apparel revenue by more than half a billion dollars,” Plank said. “Webrought a new dimension to our brand in 2014 and laid the foundation for continued growth in women’s with our, I WILL WHAT I WANT campaign. We continue to drive innovation in premium pricing throughout our North American Apparel business with large platforms like ColdGear Infrared, Charged Cotton and Storm, and in key categories like training, outdoor, golf, and women’s studio. We are focused on gaining additional floors base in these categories with our key wholesale sporting goods partners through improved merchandising and key initiatives, like reinvigorating our core performance training apparel with the introduction of Armour.”
Under Armour’s footwear business helped accelerate overall growth in 2014 as revenue rose a whopping 44% for the year, to $431 million.
New England Patriots’ quarterback Tom Brady wore Under Armour cleats during his team’s 28-24 victory over the Seattle Seahawks in Super Bowl XLIX.
Internationally, the brand grew 96%, to $260 million in 2014, as Under Armour continues to open new markets around the world.