UNDER ARMOUR’S BIG DAY: Under Armour’s stock shot up 94.7 percent to $25.30 a share Friday in the company’s first day of public trading on the Nasdaq. The athletic firm’s stock was priced initially at $13 and that was bumped up twice last week before trading started. Under Armour is trading under the symbol UARM. The Baltimore-based company, which had sales of $205 million last year, is sold in about 8,000 doors, including sports chains such as Dick’s Sporting Goods and The Sports Authority and fashion stores such as Nordstrom. The company said in its filing that its growth strategies include increasing the focus on women’s and broadening its product array. It also plans to use some of the proceeds to pay down debt.
WAL-MART RAID: Wal-Mart, which is trying to portray itself as a responsible employer, was stung Thursday when U.S. Immigration and Customs Enforcement officers arrested about 120 suspected illegal immigrants who were building a Wal-Mart distribution center in Pottsville, Pa. The workers were employed by subcontractors, not directly by Wal-Mart, said Marty Heires, a spokesman for the retailer. “We have written contracts with these subcontractors requiring that they follow all applicable local, state and federal employments laws,” he said, promising the retailer would “cooperate fully” with the investigation. Authorities acted on a tip that initially went to Schuylkill County Sheriff Frank McAndrew. He described the county, a coal-mining area about 100 miles north of Philadelphia, as having strong ties to organized labor.
HILFIGER AMENDS: Tommy Hilfiger Corp. filed its amended annual report Friday for the fiscal year ended March 31, 2005. Net income dropped 34.5 percent to $85.7 million, or 93 cents a share, from $130.8 million, or $1.43 a share, a year ago. Total revenue fell to $1.78 billion from $1.87 billion in 2004. U.S. wholesale revenue dropped to $679,000 from $959,000.