UNDER ARMOUR TOPS SALES ESTIMATES ON E-COMMERCE GAINS

Under Armour Inc.’s sales beat expectations in the fourth quarter as the athletic-apparel maker benefited from e-commerce demand and made progress on its restructuring program, sending the shares higher. revenue in the period ended dec. 31 fell three per cent to us$1.4 billion, topping the us$1.26 billion average of analyst estimates compiled by bloomberg. e-commerce sales jumped 25 per cent. under Armour is looking to reverse a slump after it struggled to take advantage of a shift toward athleticwear that has lifted some of its competitors. CEO Patrik Frisk has implemented a turnaround plan with an emphasis on cost cuts, higher cash flow and improved profitability. In the year ahead, he said the company is also focused on elevating its direct-to-consumer business.