Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Under Armour revenue jumps as people return to gyms

08/03/2021 | 12:50pm EDT

As home-bound customers returned to gyms and yoga classes, surging demand for sports apparel and sneakers pumped up results at Under Armour. The athletic clothing maker's quarterly revenue nearly doubled, and its adjusted earnings crushed analysts' estimates.

Revenue in three of its biggest markets more than doubled.

Sports apparel makers like Under Armour, Nike and Adidas are seeing a sales boost. While consumers may shift some of their dollars to dressier clothing as they head back to offices, analysts believe the resumption of team sports at schools and colleges could offset that impact.

Under Armour is bullish about the road ahead. It significantly jacked up its annual earnings forecast, betting that it'll benefit from charging higher prices.

Shares in Under Armour, which have risen by a quarter this year, rose in early trading Tuesday.


ę Reuters 2021
Latest news "Economy & Forex"
12:39pTwo Fed policymakers say bar for taper met, nod to next debates
RE
12:39pBrazil sets 5G mobile auction for Nov 4, says minister
RE
12:37pTech stocks, Nike drag Wall Street lower after two-day sharp rally
RE
12:35pShares in Russia's Novatek recover from fall after executive's U.S. arrest
RE
12:30pDreyfus, others shut soy crushing operations in China on power curbs
RE
12:22pChina's top regulators ban crypto trading and mining, sending bitcoin tumbling
RE
12:21pFed officials, readying for taper, hear from small businesses and community groups
RE
12:20pFed officials, readying for taper, hear from small businesses and community groups
RE
12:18pWORLDWIDE ENERGY SHORTAGE SHOWS UP IN SURGING COAL, GAS AND OIL PRICES : Kemp
RE
12:13pWPP pays $19 million in bribery settlement with U.S. SEC
RE
Latest news "Economy & Forex"