3 Reasons Why Under Armour Is The Hottest Athletic Company Right Now
Under Armour (UA) reported earnings that beat Wall Street estimates on Thursday as the company powered its way over the billion dollar revenue line for the first time. The retailer raked in $1.2 billion in revenue, with earnings of $0.45 a share. So what makes Under Armour the hottest sportswear company around right now? Sales of footwear increased 61 percent following the company's dive into sneaker production and basketball shoes, giving competitors like Nike (NKE) a run for their money. The company has been particularly savvy in terms of marketing and viral content advertising, reeling in a range of rising sports stars including ballerina Misty Copeland and Golf champion Jordan Spieth to promote the brand. Under Armour has now collected over 20 million users for its digital fitness platform thanks to its acquisitions of networks like MyFitnessPal and MapMyFItness which has helped further boost the brand. The stock was also up today after Under Armour raised its full year revenue forecast from $3.84 billion to $3.91 billion. Under Armour expects full-year revenue of $3.91 billion.
