ADDYY - Under Armour Posts a Q1 Massive Sales Increase. Is It Back in the Game?
Many growth investors have given up on Under Armour (NYSE: UA) (NYSE: UAA) in the past few years and the underperforming athletic wear brand's stock price has been in steady decline. The economic volatility of early 2020 didn't help the situation, but its strong performance since March 2020 has helped the stock price make a bit of a comeback.
That strong performance continued into 2021 with the sports shoe and apparel manufacturer reporting a 35% year over year sales increase in the first quarter. What should investors make of this Q1 earnings beat ?
In its early years, Under Armour was focused on technologically advanced activewear for serious athletes, and its rise was seen as a threat to market leaders like Nike (NYSE: NKE) and adidas (OTC: ADDYY) . But sales started to falter a few years ago due to mismanagement and a highly promotional environment, which diluted its premium branding.
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Under Armour Posts a Q1 Massive Sales Increase. Is It Back in the Game?