Pursuits
Under Armour Soars After Footwear Surge Helps Boost Profit
- Sales of sneakers nearly doubled thanks to Stephen Curry line
- Company cools concerns that robust growth was slowing down
Footwear Surge Boosts Under Armour Sales
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Under Armour Inc. shares rose the most in two years after surging footwear sales bolstered fourth-quarter earnings, easing fears that the company’s growth streak was cooling.
The shares climbed 23 percent to $84.07 at the close on Thursday, the biggest gain since January 2014. Before the rally, they had tumbled 34 percent since an all-time high of $104.10 in September.