×
83 887
Fashion Jobs
NORDSTROM
Asset Protection - Security Ambassador - Topanga
Permanent · Los Angeles
NORDSTROM
Asset Protection - Security Ambassador - Metro Pointe at South Coast Rack
Permanent · Costa Mesa
NORDSTROM
Asset Protection - Security Ambassador - nj Rockaway Commons rk
Permanent · Rockaway
NORDSTROM
Asset Protection - Security Ambassador - Southpark
Permanent · Charlotte
CENTRIC BRANDS
Account Executive - Accessories
Permanent · New York
CENTRIC BRANDS
Production Manager
Permanent · Los Angeles
ATHLETA
General Manager -Woodbury Lakes
Permanent · Woodbury
MICHAEL KORS RETAIL INC
ft Sales Supervisor, Houston Galleria
Permanent · Houston
NEW BALANCE
sr. Manager, Value Chain Business Operations
Permanent · Lawrence
L'OREAL GROUP
Packaging Operator ii
Permanent · North Little Rock
MACY'S
Asset Protection Detective, North Star Mall - Part Time
Permanent · San Antonio
MARSHALLS
70118-lp Detective
Permanent · Ann Arbor
HOMEGOODS
Loss Prevention Detective
Permanent · Lemont
SALLY BEAUTY CORPORATE
sr. Marketing Project Manager
Permanent · Denton
NORDSTROM INC
Manager, Product Management – Checkout
Permanent · Washington
NORDSTROM INC
Product Manager 2 - Inspection And Item-Prep
Permanent · Washington
NORDSTROM INC
sr. Product Manager – Loyalty Platform
Permanent · Washington
NORDSTROM INC
Project Manager ii - Digital Operations - Seattle, wa [Hybrid]
Permanent · Washington
ROSS STORES
Store Protection Specialist
Permanent · Victorville
ROSS STORES
Store Protection Specialist
Permanent · Champaign
ROSS STORES
Store Protection Specialist
Permanent · Wyncote
ROSS STORES
Store Protection Specialist
Permanent · Santa Ana
By
Reuters
Published
Nov 2, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Athletic wear demand drives Under Armour's forecasts raise; shares jump

By
Reuters
Published
Nov 2, 2021

Under Armour Inc raised its annual revenue and profit forecasts on Tuesday, as people seek comfortable casuals and athletic wear with their pandemic-hit social life still irregular and offices yet to open.


Photo: Under Armour



Shares of the company jumped 10.5% after the athletic wear maker said it expected 2021 revenue in North America, a major market, to growth in high twenties.

Athletic apparel makers, including Nike and Adidas AG, have booked outsized sales benefits from people shunning dressier apparel for joggers, hoodies and other smart casuals that catered to their needs for workout wear as well as comfortable day outfits.

Analysts believe the athletic wear boom could last at least through next year, even as schools and offices reopen.

Under Armour’s forecast raise comes at a time when months-long factory closures in Vietnam, where it sources about one-third of all its products from, have raised doubts about the availability of its products during the all-important holiday season and beyond.

It forecast 2021 adjusted earnings per share to reach about 74 cents, compared with its prior range of 50 cents to 52 cents. Analysts on average expect profit per share of 55 cents, according to Refinitiv IBES.

It expects 2021 revenue to increase about 25% versus its previous forecast in low twenties, and compared with analysts’ average estimate of a 22.7% rise.

The clothing brand has also been spending more on marketing for new launches, including women’s SmartForm bra and new Hovr shoe models. It recently launched videos with athletes Chase Young, Trent Alexander-Arnold and Ty Harris wearing its apparel.

Net revenue increased 8% to $1.55 billion in the third quarter ended Sept. 30, beating estimates of $1.48 billion.

On an adjusted basis, the company earned 31 cents per share, above estimates of 15 cents.

© Thomson Reuters 2022 All rights reserved.