Under Armour shares shot up 20% on Thursday as the sportswear maker raised its annual profit forecast, betting on lower input costs and cost-saving strategies such as fewer discounts at its own stores and website.

Under Armour's shares jumped 25% on Thursday after the sportswear giant raised its annual profit forecast, citing lower input costs and cost-saving measures.

Sportswear maker Under Armour raised its annual profit forecast on Thursday, betting on its cost-saving strategy and efforts to sell more clothing and shoes at full price. Shares of the company rose 6.

Investing.com - Under Armour (NYSE:UAA) has lifted its profit outlook for its current fiscal year, as the athletic apparel maker works through a pricey overhaul of its operations. Baltimore-based Under Armour previously announced a plan to