Under Armour Pursues Plans To Break Ties With Some Retailers In Push For More Profitable Sales

Under Armour said Wednesday it is forging ahead with its turnaround strategy to pull its sneakers and sweat-wicking tops out of struggling middlemen and instead pour investments into its own stores and website. Investors rallied behind management’s remarks about the future, with Under Armour shares soaring more than 8% in afternoon trading, and touching a 52-week high of $23.23 at one point. Earlier Wednesday, the company reported fourth-quarter earnings and sales that not only topped Wall Street expectations but showed an unexpected profit. Read more at CNBC.