Under Armour beats third-quarter financial estimates, raises profit outlook

Under Armour beat earnings and sales expectations in the third quarter and raised its profit outlook for the current fiscal year as footwear and international sales drove growth. But executives said the Baltimore-based athletic apparel and footwear brand finds itself operating in a challenging retail environment while it works through bloated levels of inventory. Under Armour shares fell $1 each — nearly 8.2% — to close Wednesday at $11.22.