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Under Armour (UAA) reports Q4 2020 earnings beat, digital sales boost

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Products are displayed in an Under Armour store in New York City, November 4, 2019.

Brendan McDermid | Reuters

Under Armour on Wednesday reported a surprise profit for the holiday quarter as sales were boosted by strong digital growth.

The sneaker maker also offered an initial outlook for 2021. It expects sales to rise in the high single digits, helped by a rebound of consumer demand in North America. Revenue fell 15% in 2020.

Its shares jumped more than 5% in premarket trading.

Here’s how the company did for the fourth quarter compared with what analysts were expecting, based on a survey by Refinitiv:

  • Earnings per share: 12 cents, adjusted, vs. a loss of 7 cents, expected
  • Revenue: $1.4 billion…



Source cnbc.com

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