Under Armour Targets $7.5 Billion In Revenue In Three Years

Under Armour Inc. said Wednesday it forecast net revenue of $7.5 billion by 2018, a 25% compounded annual growth rate from the $3.1 billion in revenue the sports apparel and equipment maker reached last year. The company also plans to spend between 8% and 10% of its revenue every year, deploying capital "at an elevated rate" in order to position itself for "success well beyond our 2018 targets," Under Armour said. Shares of Under Armour rose 0.2% in late trading Wednesday after ending the regular session up 4.7% at $103.36, a record close for the stock.