Under Armour CEO Signals 'Premium' Brand Transformation After Strong Q2 Performance, Stock Soars

Under Armour Inc. (NYSE:UAA) (NYSE:UA) shares surged on Thursday after the company reported better-than-expected second-quarter results.

The company reported a 10.7% year-over-year decline in net revenue to $1.399 billion, surpassing the $1.38 billion analyst consensus. Adjusted EPS was $0.30, above the consensus of $0.20.

Wholesale revenue decreased 12% year over year to $826 million, and direct-to-consumer revenue was down 8% to $550 million.

Apparel revenue slipped 12% year over year, Footwear revenue dropped 11%, and Accessories revenue rose 2%. North American revenue decreased 13% to $863 million, and international revenue declined 6% to $538 million.

Gross profit decreased 7% to $696.13 million, and the gross margin expanded 200 basis points to 49.8%.

Operating ...