Under Armour Stock Surges 10% After Lifting Annual Profit Forecast
Under Armour on Thursday raised its forecast for annual profit, as the athletic wear maker's efforts to dial down on discounts coupled with easing product and freight costs bolstered its margins.
The company expects annual adjusted earnings per share to be in the range of 28 cents to 30 cents, compared with a prior range of 24 cents to 27 cents per share.
Shares of Under Armour rose 10% after earnings report.
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