Shared from Business of Fashion
Under Armour Inc beat Wall Street estimates for quarterly revenue on Friday, as the sportswear maker benefited from strong demand for its athletic wear and higher prices of its hoodies and leggings to counter inflation.
The company’s net revenue rose to $1.53 billion in the fourth quarter ended Dec. 31, from $1.40 billion, a year earlier. Analysts polled by Refinitiv were expecting $1.47 billion.
By Ananya Mariam Rajesh and Praveen Paramasivam; Editor: Amy Caren Daniel
Learn more:
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Sportswear companies are upgrading their outlooks for the year as consumers’ appetite for yoga pants and joggers shows no sign of letting up.
Images and Article from Business of Fashion