Under Armour earnings, sales top Wall Street expectations

Under Armour shares initially jumped more than 5 percent Tuesday after the sneaker maker reported better-than-expected fourth-quarter earnings and revenue, boosted by apparel sales and growth overseas.

The company earned 9 cents per share on an adjusted basis, topping expectations of 4 cents, based on a poll by Refinitiv.

Sales during the quarter rose 1.5 percent to $1.39 billion, again ahead of expectations for $1.38 billion.

In the U.S., Under Armour said sales fell 6 percent during the fourth quarter to $965 million, while international sales climbed 28 percent on a currency neutral basis to $395 million and now account for 28 percent of total revenue.

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Quite a lot has been going on:

Under Armour earnings, sales top Wall Street expectations

It said apparel sales were up 2 percent, fueled by its training business. Footwear sales were down 4 percent, as Under Armour said it sold less shoes in discount stores during the holiday period. Accessories sales declined 2 percent.’

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Fewer discounts help Under Armour top expectations in holiday quarter

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