Under Armour Shares Rally 10% As Sales Surge

Under Armour

Shares in athletic clothing manufacturer Under Armour rallied this morning after the company announced sales improved 27 per cent during its second quarter.

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Revenue during the quarter advanced to $369 million, roughly $10 million above Wall Street estimates.

The Baltimore, Maryland, based performance goods focused firm also beat earnings expectations. The company said it earned $7 million during the period, or $0.06 a share.

“Our heightened attention to innovation across all of our product lines continues to resonate with consumers,” Chief Executive Kevin Plank said. “Our broad-based success during the quarter reflects our ability to build upon platform technologies such as Charged Cotton, while introducing new ideas such as ColdBlack.”

Trading was halted after an imbalance at the open, but resumed shortly into the day. Shares are now up more than 11 per cent.

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