Earnings

Under Armour shares initially jumped more than 5 percent on Tuesday after the athletic apparel maker reported better-than-expected fourth-quarter earnings and sales.

The sneaker maker earned 9 cents a share on an adjusted basis, topping expectations of 4 cents, based on a poll by Refinitiv.

Sales during the quarter were $1.39 billion, again ahead of expectations for $1.38 billion.

In the U.S., Under Armour said sales fell 6 percent during the fourth quarter to $965 million, while international sales climbed 28 percent on a currency neutral basis to $395 million and now account for 28 percent of total revenue.

It said apparel sales were up 2 percent, fueled by its training business. Footwear sales were down 4 percent, as Under Armour said it sold less shoes in discount stores during the holiday period. Accessories sales declined 2 percent.

Under Armour shares have climbed more than 50 percent from a year ago.

This is a developing story. Please check back for updates.

Products You May Like

Articles You May Like

For military spouses, entrepreneurship may be the answer. Here are 5 tips to make it work
Google is getting into banking to take back the business it lost to Amazon
Here’s why you’re not rich and here’s what you can do to get there
Here’s what needs to happen to make people smarter about money
Gen Z shoppers grew up online but don’t like to shop there. This holiday, they’ll be at the mall

Leave a Reply

Your email address will not be published. Required fields are marked *