Written by Lorraine Mirabella
Under Armour’s plans to sell fitness app MyFitnessPal for $345 million are part of a turnaround strategy that executives said is paying off in strong online business and sales of new basketball shoe styles and women’s workout apparel.
The Baltimore-based brand announced the sale of the fitness app Friday to Francisco Partners as it released better-than-expected results for three months ended Sept. 30. The sports apparel maker also said it would shut down another of its fitness apps, Endomondo, at the end of the year.
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