Adds gross sales particulars, revenue forecast
Aug 3 (Reuters) – Underneath Armour Inc UA.NUAA.N raised its annual income forecast on Tuesday, as demand for its athletic attire and footwear rose on account of prospects returning to gyms and yoga courses as coronavirus curbs eased.
Athletic attire makers, together with Underneath Armour, Nike NKE.N and Adidas AG ADSGn.DE, have acquired a gross sales increase from prospects turning to wholesome residing and outside experiences reminiscent of mountaineering and jogging in the course of the well being disaster.
Underneath Armour mentioned it expects 2021 adjusted earnings per share of 50 cents to 52 cents, in contrast with a earlier outlook of 28 cents to 30 cents.
Internet income rose to $1.35 billion within the second quarter ended June 30 from $707.6 million a 12 months earlier. Analysts on common had anticipated web income of $1.21 billion, in line with IBES information from Refinitiv.
The corporate expects 2021 income to rise in low-20s share, in contrast with a earlier outlook of a high-teen share improve.
(Reporting by Praveen Paramasivam in Bengaluru; enhancing by Vinay Dwivedi)
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