Under Armour Shares Soar As Earnings Beat Prompts Retailer To Hike Annual Outlook

Under Armour shares soared in premarket trading Tuesday as strong fiscal third-quarter earnings revealed the athletic apparel maker is seeing progress in improving its brand image under CEO Patrik Frisk. With heightened demand for its sneakers and sweat-wicking clothing, Under Armour said it now anticipates sales will rise 25% from 2020, topping its prior outlook. Frisk has been trying to improve Under Armour’s image by increasing marketing spending and pulling inventory out of discount channels in order to sell more at full price. Read more at CNBC.