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Sportswear Brand Under Armour Beats Revenue Estimates

Under Armour store.
An Under Armour store. (Shutterstock)

Under Armour Inc beat Wall Street estimates for quarterly revenue on Friday, as the sportswear maker benefited from strong demand for its athletic wear and higher prices of its hoodies and leggings to counter inflation.

The company’s net revenue rose to $1.53 billion in the fourth quarter ended Dec. 31, from $1.40 billion, a year earlier. Analysts polled by Refinitiv were expecting $1.47 billion.

By Ananya Mariam Rajesh and Praveen Paramasivam; Editor: Amy Caren Daniel

Learn more:

What’s Driving Activewear’s Endless Boom?

Sportswear companies are upgrading their outlooks for the year as consumers’ appetite for yoga pants and joggers shows no sign of letting up.

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Inside the $7 Billion Dior Phenomenon