Retail

Under Armour (UAA) reports Q3 2020 earnings beat

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Under Armour shares jumped Friday, as the retailer’s earnings and sales topped estimates, with consumers stocking up on the brand’s sneakers and workout gear during the coronavirus pandemic.

CEO Patrik Frisk cited higher demand for the athletic apparel maker’s products, especially in North America, for the better-than-expected performance.

Its share price surged 9.6% in premarket trading.

The company has been working to get back to growth on its home turf. It has been heavily reliant in the past on department stores and discount chains to sell its gear, a strategy that has hurt profitability and diluted the brand’s image compared with competitors including Nike, Adidas and Lululemon. But…



Source cnbc.com

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