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Under Armour sales up 34 percent in second quarter

Under Armour sales up 34 percent in second quarter

Years of investing in global expansion and footwear is starting to pay off, Under Armour said Thursday after the Baltimore-based company reported a 34 percent jump in second-quarter sales that sent shares soaring. The sports apparel maker's stock leapt nearly 15 percent Thursday to $69.55 per share. Consumers are buying into the sports apparel maker's strategy of transforming itself into an international brand known for performance-based footwear as much as for its core clothing business, the company said. Better-than-expected sales prompted Under Armour to boost its sales forecast for the year to as much as $3 billion, a 29 percent jump from last year. While the brand has seen...

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