Check out Under Armour’s better-than-expected earnings, helped by its foray into cross trainers that compete with Nike’s.
Under Armour, which uses technical fabrics and materials to wick sweat away from athlete’s bodies, reported a smaller drop in net profit than analysts had expected and raised its outlook for income from operations for the year.
In other “no-sweat” news, Italy’s Geox, whose shoes are made with breathable soles, reported a 13 percent rise in first half net profit, sending its shares higher. The company is projecting 20 percent annual sales growth over the next three years, helped by new stores.
Results from the shoe and apparel makers joined several other consumer companies whose results beat Wall Street expectations, from Pilgrim’s Pride to Jarden and Masco.
At chicken maker Pilgrim’s Pride, shares rose as high as 18 percent due to a smaller-than-expected loss in light of continued high feed costs.
And quarterly net profit more than doubled at consumer products company Jarden, helped by new acquisitions and sales in its outdoor division, while building products maker Masco posted higher-than-expected profit due to cost cutting.
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