Under Armour tightens up on costs

|About: Under Armour, Inc. Class C (UA)|By:, SA News Editor

Investors give Under Armour (UA, UA) credit for tightening up in FQ2, pushing shares up 2.2% in premarket trading.

Standing out was the UA's gross margin rate of 45.1% during the quarter that topped expectations and the 12% drop in inventory to the lowest level in almost two years.

While the company's sales in North America and Latin America fell more than anticipated, the Europe business outperformed.

"As we look ahead to 2019, our accelerated innovation agenda, disciplined go-to-market process and powerful consumer-centric approach gives us increasingly greater confidence in our ability to deliver for Under Armour athletes, customers and shareholders," says CEO Kevin Plank.

Previously: Under Armour +3% on earnings beat (Feb. 12)

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