Under Armour Inc. (NYSE:UA) reported net income above Wall Street’s expectations for the third quarter. Net income for Under Armour Inc. rose to $46 million (88 cents per share) vs. $34.9 million (68 cents per share) in the same quarter a year earlier. This marks a rise of 31.9% from the year earlier quarter. Revenue rose 41.7% to $465.5 million from the year earlier quarter. UA beat the mean analyst estimate of 83 cents per share. It beat the average revenue estimate of $445.6 million.
Kevin Plank, Chairman, CEO, and President of Under Armour, Inc., stated, “We surpassed a billion dollars in net revenues last year, and the Brand has already topped that milestone this year through the first three quarters. Our product engines are as strong as ever, as demonstrated by consecutive quarters of 40% plus growth for the first time since 2007. We successfully launched Storm Fleece during the quarter, our cold weather Charged Cotton product. We also elevated our footwear message while continuing to enhance our global distribution network. Our strong results and the early acceptance of new products such as Storm Fleece and our Charge RC footwear give us confidence that the consumer continues to vote for our Brand.”
Competitors to Watch: Columbia Sportswear Company (NASDAQ:COLM), Crocs (NASDAQ:CROX), Deckers Outdoor (NASDAQ:DECK), Skechers (NYSE:SKX), K-Swiss (NASDAQ:KSWS), Steven Madden (NASDAQ:SHOO), The Timberland Company (NYSE:TBL), LaCrosse Footwear (NASDAQ:BOOT), Phoenix Footwear (AMEX:PXG), Foot Locker (NYSE:FL), The Finish Line (NASDAQ:FINL) and Nike Inc. (NYSE:NKE).
Office Depot Inc. (NYSE:ODP) from reporting a profit boost in the third quarter. Net income for the specialty retail company rose to $100.9 million (28 cents per share) vs. $41.3 million (12 cents per share) in the same quarter a year earlier. Revenue fell 2.2% to $2.84 billion from the year earlier quarter. ODP reported adjusted earnings of 0 cents per share. By that measure, the company fell short of mean estimate of 2 cents per share. Analysts were expecting revenue of $2.89 billion.
“I’m pleased with the traction we’re getting in our North American businesses despite a lackluster U.S. economy,” said Neil Austrian, Office Depot’s Chairman and Chief Executive Officer. “The successful execution of our key business initiatives is beginning to move the needle.”
Competitors to Watch: Staples, Inc. (NASDAQ:SPLS), OfficeMax Incorporated (NYSE:OMX), Wal-Mart (NYSE:WMT), Target (NYSE:TGT), Walgreens (NYSE:WAG), CVS (NYSE:CVS), Stamps.com Inc. (NASDAQ:STMP), Williams-Sonoma, Inc. (NYSE:WSM), Pier one Imports, Inc. (NYSE:PIR), and Big Lots, Inc. (NYSE:BIG).