Under Armour's turnaround gains traction on raised EPS forecast

Key PointsUnder Armour boosted gross margins by 100 bps to 45.2% and lowered inventories by 9.1% to $1 billion in fiscal Q3 2024, lifting EPS forecasts.Under Armour developed a new performance stretch fabric, NEOLAST, a sustainable alternative to spandex, to launch in 2024.Under Armour stock trades at just 9x earnings compared to Nike at 30x and Lululemon at 59x.5 stocks we like better than Lululemon AthleticaSports apparel and footwear company Under Armour Inc. (NYSE: UAA) gave shareholders a shot of optim ...