What's moving markets today: Live updates - CNN

Under Armour (UA) is struggling at home in North America, but the athletic brand is hot in Asia, Europe and Latin America.

Under Armour said Thursday that sales in North America fell 2.8% during its most recent quarter compared with a year earlier, while sales increased 12% in international regions.

In Asia, Under Armour's sales surged 24% during the quarter. They increased almost 6% in Latin America and 3.5% in Europe, the Middle East and Africa.

Under Armour has been expanding overseas to combat a saturated market for athletic clothes in the United States. Big brands like Nike (NKE) are gaining strength and retailers like Target (TGT) and Gap (GPS) are making their own athletic brands

Under Armour makes 60% of its sales to outside retailers, while 35% come from its own stores and website. Last quarter, Under Armour's wholesale revenue increased 5%, but its direct sales fell 6%.

Under Armour's profit for the quarter beat investors' expectations and the company raised its outlook. That lifted Under Armour's stock around 4% during pre-market trading.

Under Armour's stock has gained 21% over the past year.

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https://www.cnn.com/business/live-news/stock-market-news-today-050219/index.html

2019-05-02 12:27:00Z
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