Andemar'S First Quarterly Report Showed That Stocks Fell To The Lowest Level In Three Years.

Although North American sales continued to decline, but benefited from the expected quarterly results and raised annual earnings forecasts, Under Armour Inc. (NYSE:UA) (NYSE:UAA) Andrea shares rose nearly 10% after the announcement, creating the largest one-day gain in the past six months.

In the first quarter, Andrew recorded a net profit of $22 million 477 thousand or earnings per share of $0.05, compared with a net loss of $30 million 244 thousand or a loss of $0.07 per share in the same period last year. The market expects the sporting goods group to maintain a break even in the first quarter.

In 1-3, Andrew's revenue increased by 1.6% from $1 billion 185 million 400 thousand to $1 billion 204 million 700 thousand, slightly better than the expected $1 billion 180 million of Zacks and Refinitiv, and the fixed exchange rate increased by 3% in the first quarter.

During the period, the North American market income was 843 million 200 thousand US dollars, down 2.8% from 867 million 500 thousand US dollars in the same period in 2018, but far better than the 5.5% decline expected by the market. Asia Pacific market revenue rose 24.9%, from 115 million 500 thousand US dollars to 144 million 300 thousand US dollars, which is the main kinetic energy to push the group to grow reluctantly.

In the first quarter performance report, Andrew increased EPS from US $0.30-0.33 to US $0.33-0.34 for the whole year. Its growth rate is expected to remain unchanged at 3-4%, reflecting a balanced performance in North America and a double-digit increase in the international market.

In the first quarter, the group's international business increased by about 12% to 328 million dollars, and the fixed exchange rate increased by 17%, accounting for 27% of the total revenue for the quarter.

The group's chief operating officer, Patrik Frisk, said at a performance meeting on Thursday that the core North American market has stabilized and quit some discount channels to sell high-end products to consumers at full price.

Kevin Plank, chief executive, said that the brand sports leisure style products were popular in the local market.

Under the reform plan, Andrew's first quarter inventory dropped by 24% to 875 million US dollars, the lowest level in three years.

Under the previously announced restructuring plan, the company restructured the North American store network, cut down hundreds of jobs, cleaned up the remaining stocks, optimized SKU and improved the supply chain while continuing to expand international expansion.

In the first quarter, Andrew gross profit margin continued to improve, an increase of 100 basis points from 45.2% over the same period last year.

On Thursday's closing, Under Armour Inc. (NYSE:UAA) Andemar A shares rose 3.54% to 22.82%, up 29.15% so far this year, almost double the 500 increase in the S & P 500 index over the same period.