Spotting Winners: Under Armour (NYSE:UAA) And Apparel and Accessories Stocks In Q3

The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Under Armour (NYSE:UAA) and the rest of the apparel and accessories stocks fared in Q3.

Thanks to social media and the internet, not only are styles changing more frequently today than in decades past but also consumers are shifting the way they buy their goods, favoring omnichannel and e-commerce experiences. Some apparel and accessories companies have made concerted efforts to adapt while those who are slower to move may fall behind.

The 16 apparel and accessories stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 2.1% while next quarter’s revenue guidance was in line.

In light of this news, share prices of the companies have held steady as they are up 4% on average since the latest earnings results.

Under Armour (NYSE:UAA)

Founded in 1996 by a former University of Maryland football player, Under Armour (NYSE:UAA) is an apparel brand specializing in sportswear designed to improve athletic performance.

Under Armour reported revenues of $1.33 billion, down 4.7% year on year. This print exceeded analysts’ expectations by 1.9%. Overall, it was a strong quarter for the company with a beat of analysts’ EPS estimates and an impressive beat of analysts’ adjusted operating income estimates.

"We delivered results ahead of our prior outlook this quarter and are encouraged to see signs of brand momentum in North America – an important milestone in our turnaround," said Under Armour President and CEO Kevin Plank.

Interestingly, the stock is up 24.7% since reporting and currently trades at $5.75.

Is now the time to buy Under Armour? Access our full analysis of the earnings results here, it’s free for active Edge members.

Best Q3: Figs (NYSE:FIGS)

Rising to fame via TikTok and founded in 2013 by Heather Hasson and Trina Spear, Figs (NYSE:FIGS) is a healthcare apparel company known for its stylish approach to medical attire and uniforms.

Figs reported revenues of $151.7 million, up 8.2% year on year, outperforming analysts’ expectations by 6.4%. The business had an incredible quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

The market seems happy with the results as the stock is up 58.1% since reporting. It currently trades at $11.89.

Is now the time to buy Figs? Access our full analysis of the earnings results here, it’s free for active Edge members.

Movado (NYSE:MOV)

With its watches displayed in 20 museums around the world, Movado (NYSE:MOV) is a watchmaking company with a portfolio of watch brands and accessories.

Movado reported revenues of $186.1 million, up 3.1% year on year, in line with analysts’ expectations. It was a softer quarter as it posted a significant miss of analysts’ EPS estimates.

Interestingly, the stock is up 12.3% since the results and currently trades at $21.83.

Read our full analysis of Movado’s results here.

PVH (NYSE:PVH)

Founded in 1881 by a husband and wife duo, PVH (NYSE:PVH) is a global fashion conglomerate with iconic brands like Calvin Klein and Tommy Hilfiger.

PVH reported revenues of $2.29 billion, up 1.7% year on year. This number topped analysts’ expectations by 0.5%. Zooming out, it was a mixed quarter as it also produced a decent beat of analysts’ adjusted operating income estimates but EPS guidance for next quarter missing analysts’ expectations.

The stock is down 24% since reporting and currently trades at $66.58.

Read our full, actionable report on PVH here, it’s free for active Edge members.

ThredUp (NASDAQ:TDUP)

Founded to revolutionize thrifting, ThredUp (NASDAQ:TDUP) is a leading online fashion resale marketplace offering a wide selection of gently-used clothing and accessories.

ThredUp reported revenues of $82.16 million, up 33.6% year on year. This result surpassed analysts’ expectations by 5.9%. It was an exceptional quarter as it also produced a solid beat of analysts’ adjusted operating income estimates and full-year revenue guidance exceeding analysts’ expectations.

ThredUp pulled off the fastest revenue growth among its peers. The stock is down 28.3% since reporting and currently trades at $6.10.

Read our full, actionable report on ThredUp here, it’s free for active Edge members.

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