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Under Armour Stock Pops As Q3 Shows ‘Transformation Is On Track’

Shares for Under Armour are jumping in pre-market trading after the firm posted third-quarter earnings that topped market watchers’ forecasts and lifted its outlook for the fiscal year.
The Baltimore-based athletic footwear and apparel maker — which has recently worked to reverse deceleration following a period of robust growth in 2016 — said its profits during the period soared 40 percent to $75.3 million, or 17 cents per diluted share. On an adjusted basis, profits were 25 cents per share — handily topping analysts’ expectations for 12 cents per share.
Revenues were in line with consensus bets — advancing 2 percent to $1.4 billion as apparel sales gained 4 percent to hit $978 million with growth in training, golf and team sports. Footwear sales were flat year over year at $285 million while accessories revenue decreased 6 percent to $116 million driven by declines in outdoor and training.
While analysts had been down on the company recently — citing weak footwear sales, poor product distribution and seemingly slow-churning efforts to reinvigorate the label — chairman and CEO Kevin Plank said today’s results demonstrated that the firm’s “multi-year transformation is on track.”
“As we work through this chapter, we are staying sharply focused on our

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Via:: http://footwearnews.com/2018/business/earnings/under-armour-sales-profit-q3-earnings-2018-1202701195/