Under Armour says margin pressures will remain (UA)

pulse

May 1, 2018 12:44 PM

Under Armour on Tuesday reported first-quarter results that beat on both the top and bottom lines and reiterated its full year earnings forecast.

Under Armour beat on both the top and bottom lines.
The athletic-apparel maker reiterated its full-year earnings forecast.
Shares are down .

Under Armour on Tuesday reported first-quarter results that beat on both the top and bottom lines. Shares ticked higher after the results were released, but are now down 5.8% as selling has taken hold in response to the conference call.

The athletic-apparel maker posted a breakeven quarter, topping the $0.06 loss that Wall Street analysts surveyed by Bloomberg were expecting.

Revenue rose 6% versus a year ago to $1.2 billion, edging out the $1.12 billion that was anticipated. The company said sales in North America were flat, but the company's international business saw revenue soar 27% year-over-year. Strength in men's training helped apparel sales spike 7% while footwear revenue increased 1% as strength in running offset weakness in team sports and global football.

The company has been losing market share as of late, recently falling into fourth place behind Puma.

Under Armour shares are up 22.9% this year.

pulse