Reported 2 months ago
Under Armour reported an unexpected profit in the first quarter, driven by improved margins from selling sports apparel at full price and a reduced inventory level. The company's shares rose by 18% as it raised its annual profit forecast. Despite challenges in its North American market, the retailer is focusing on higher-margin items and cutting promotions, which has led to a positive shift in profitability, according to analysts.
Source: YAHOO