New York—First quarter earnings reports have begun trickling in…and you know what? They’re better than expected.
Despite earlier profit and sales warnings, several companies are posted better-than-expected results. Now many analysts doubt that such positive results will continue as first quarter earnings season progresses, but so far results seem to echo the surprisingly strong March retail sales the U.S. Department of Commerce reported last week.
A Winning Season?
At Under Armour, which has become something of a Wall Street darling with its dramatic growth, boasted a 73% jump in profit on top of a 36% increase in sales to $642 million, ahead of analysts’ estimate for $599 million.
Similarly, Skechers reported a four-fold rise in its first quarter profit. Sales grew 21% to $546.6 million. Said CFO David Weinberg: “The demand for Skechers footwear from both our customers and consumers has been above and beyond our expectations.”
Another burst in sales is hitting the tights category which is seeing a renaissance of sorts, buoyed by hosiery’s growing popularity with younger women and Millennials. Last year dollar sales rose 33% in tights, the NPD Group reports. And that momentum is expanding into other categories.
“Even traditional pantyhose have made a comeback over the last few years thanks to public figures like Catherine, Duchess of Cambridge who has made wearing pantyhose an acceptable fashion look,” says NPD analyst Maria Ianni.
Take a look below at some of the gainers and some of the losers in the top 10 online news articles: