Under Armour on Tuesday raised its sales and profit outlook for the full year, as the sports apparel maker sees demand for its brand roaring back with shoppers returning to its stores.
It reported first-quarter sales growth of 35%, topping analyst expectations. The company is lapping a period a year earlier, when its stores were temporarily shut and Under Armour had to turn to layoffs and other cost-cutting measures to fight through the health crisis.
“On a two-year stack, that is skipping over 2020, we’re running a better, higher quality and more profitable business,” CEO Patrik Frisk said during an earnings conference call.
Under Armour’s stock was down 1.6% after jumping more than 3% in…