Under Armor Inc. (NYSE: UAA) had strong top and bottom line beats for its fiscal Q3 2023 as it raised full-year Q2 2023 EPS estimates. Everything reversed when inflation reached 40-year highs and the U.S. Federal Reserve enacted a monetary tightening policy of aggressive interest rate hikes. This has been echoed by many retailers on their recent earnings reports having to boost their promotions and discounts to attract customers and wind down their overflowing inventory levels.