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Under Armour beats and says it's on track to meet its full-year targets (UA)

Under Armour on Tuesday reported first-quarter results that beat on both the top and bottom lines and reiterated its full year earnings forecast.

  • Under Armour beat on both the top and bottom lines.
  • The athletic-apparel maker reiterated its full-year earnings forecast.
  • Shares are up 1.35% following the results.

Under Armour on Tuesday reported first-quarter results that beat on both the top and bottom lines, sending shares up 1.35%.

The athletic-apparel maker posted a breakeven quarter, topping the $0.06 loss that Wall Street analysts surveyed by Bloomberg were expecting.

Revenue rose 6% versus a year ago to $1.2 billion, edging out the $1.12 billion that was anticipated. The company said sales in North America were flat, but the company's international business saw revenue soar 27% year-over-year. Strength in men's training helped apparel sales spike 7% while footwear revenue increased 1% as strength in running offset weakness in team sports and global football.

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The company has been losing market share as of late, recently falling into fourth place behind Puma.

Under Armour shares are up 22.9% this year.

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