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Under Armour Beats Q3 Estimates, Cautious on Future Sales

Shares of Under Armour were lower Tuesday despite posting an earnings beat for the quarter.

Shares of Under Armour (UA) - Get Report were lower Tuesday despite posting an earnings beat for the quarter. The sportswear maker reported earnings of $0.29 a share, nine cents better than estimates. Revenue of $1.47 billion also surpassed forecasts. CEO Kevin Plank noted that this marks the 26th consecutive quarter of 20% revenue growth. But what investors seem to be concerned about is Plank's plan for Under Armour to be investing aggressively to expand its retail store footprint. This comes as the company also cautioned that apparel sales will be slower moving forward than previous long-term forecasts. (Under Armour is a holding in TheStreet's Growth Seeker portfolio). 

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