Shares of Under Armour Inc. shot up 12.3 percent Thursday as second-quarter profits more than doubled.
The Baltimore-based athletic firm also raised its outlook for the full year. Revenues are now expected to climb to $2.23 billion and $2.25 billion this year, up from the $2.21 billion to $2.23 billion previously forecast. Wall Street was already looking for $2.25 billion, but analysts might now nudge up their own projections.
Shares of Under Armour closed up $7.61 at $69.44 — the stock’s best close ever.
Kevin Plank, chairman and chief executive officer, told analysts on a conference call that the brand still has “significant runway” in North America and is also expanding abroad.
Plank attributed the brand’s strength in North America to how “the equity we have built with consumers on the playing field enables us to be a premium brand, not just with our most technical innovations, but in our core business as well. We look at our average selling price as a key metric of our ability to innovate.”
Under Armour has been at the forefront of incorporating technology into its fashions and has joined the wearable technology revolution, recently introducing the Armour39 performance monitor for athletes.
The company is also expanding overseas, for instance, looking to add three more stores in China, bringing its total to eight by the end of the year.
For the second quarter ended June 30, income rose to $17.6 million, or 16 cents a diluted share, compared with $6.7 million, or 6 cents a diluted share, a year earlier. Profits per share came in 2 cents ahead of the 14 cents analysts projected.
Revenues for the quarter expanded 23 percent to $454.5 million from $369.5 million. Apparel revenues rose 23 percent to $310 million while footwear revenues increased 21 percent to $82 million.
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)