Is Under Armour Selling its Once Highly Popular MyFitnessPal App? [The Motley Fool]
Under Armour, Inc. Class C (UA)
Last under armour, inc. class c earnings: 2/11 06:55 am
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Source: The Motley Fool
Imagine spending over $,000 on a single item, more than twice your hypothetical $,000 annual income. Spending that much suggests you'd want it too much to be willing to part with it just a few years later at what could potentially be a discounted price. And yet that's whatUnder Armour(NYSE:UAAThe technology news site The Information is reporting this week that Under Armour wants to offload MyFitnessPal, an app it paid $7 million to acquire in 0. For perspective, Under Armour's net income was $08 million in 0.Whatever Under Armour's reason is for making this transaction, it probably isn't good news for shareholders.Image source: Getty Images.Look around the fitness worldIn June, athletic apparel companylululemon athleticaNASDAQ:LULUIt's a clear demonstration of a profound consumer trend: connected fitness. These days it's not enough to secure the one-time sale of a physical product. Companies are looking to provide ongoing services with their merchandise.Yoga pants are one-time sales.
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