Under Armour's quarterly sales jumped 30 percent as the company's new sport shoes endorsed by NBA star Stephen Curry and golfer Jordan Spieth were a big hit with customers.
Shares of the company, which also raised its full-year 2016 sales forecast, rose as much as 8.7 percent, before closing up nearly 7 percent Thursday.
Under Armour's quarterly sales have risen by at least 20 percent for the past six years, helping the company replace Germany's Adidas as the No. 2 sportswear maker in the United States last year. Nike is the market leader.
"The recent market fears about the apparel slowdown were unfounded as they demonstrated another quarter of 20 percent growth, and gross margins were much better than we expected," BB&T Capital Markets analyst Corinna Freedman said.
Under Armour's sales of sports and outdoor apparel rose 20 percent to $666.6 million in the first quarter ended March 31, as more customers bought its training and golf clothing. Apparel accounts for more than 60 percent of the company's total revenue.