Under Armour news and archive

Under Armour faces new proposed class action lawsuit over 'false discounting scheme'

Under Armour is under the microscope once more, as the sportswear brand faces a new proposed class-action lawsuit alleging it uses a "false, misleading and deceptive pricing scheme" across its Under Armour Factory outlet stores and website. According to Linda Rappaport, a New York resident who filed the complaint in the state's Eastern District...

BusinessFeatured

Sales decline doesn't dampen optimism: Under Armour raises expectations, focuses on premium strategy

Sportswear giant Under Armour, Inc. is remaining optimistic despite a revenue decline, seeing opportunities to further expand its premium market position and position the brand more broadly, according to its second quarter 2025 financial report. Under Armour reported a decline in sales of 11 percent to 1.4 billion dollars. In North America, the...

Business

Restructuring becomes more expensive: Under Armour warns of higher losses

The US sporting goods manufacturer Under Armour Inc. had to issue a profit warning on Monday evening. According to current information, the ongoing reform measures will have a greater impact on earnings in the 2024/25 financial year than previously expected. The company cited additional restructuring costs as the reason, which mainly result from...

People

Under Armour names Franck Denglos as VP of commercial for EMEA

Under Armour has announced the appointment of Franck Denglos as vice president of commercial for Europe, the Middle East, and Africa (EMEA). With 25 years of experience in the sports, lifestyle, and fashion industries, the company said, Denglos brings a wealth of expertise in driving commercial success and strategic growth to the company....

BusinessFeatured

Under Armour revenues decline 10 percent in the first quarter

First quarter revenue at Under Armour was down 10 percent at reported and currency neutral basis to 1.2 billion dollars. Gross margin for the quarter increased 110 basis points to 47.5 percent, operating loss was 300 million dollars and adjusted operating income was 8 million dollars. First quarter net loss was 305 million dollars, adjusted net...

People

Unless co-founder Eric Liedtke to join Under Armour as EVP brand strategy

Eric Liedtke will join Under Armour as executive vice president of brand strategy following the completion of its acquisition of Unless Collective, a zero-plastic regenerative fashion brand. The transaction is expected to be completed later this week. He will report to president & CEO Kevin Plank and oversee Under Armour's brand presence through...

Business

Under Armour settles 434 million dollar lawsuit

Under Armour has agreed to a 434 million dollar settlement for a 2017 lawsuit initiated on claims that the sportswear manufacturer had not been honest with shareholders about its sales growth. CEO Kevin Plank is said to have deliberately reported better sales figures than the company had actually achieved in order to better align with Wall...

Business

University of Maryland and Under Armour extend partnership by 12 years

Under Armour has reaffirmed its commitment to a long-term partnership with the University of Maryland, announcing that it has extended the duo’s agreement for an additional 12 years through to 2036. Maryland and Under Armour first established their relationship at the beginning of the sportswear brand’s lifespan after its founder, Kevin Plank,...

BusinessFeatured

Under Armour announces restructuring and layoffs

Sportswear company Under Armour, Inc. has announced a restructuring strategy alongside the release of its annual results, for which net income almost halved and sales fell by several percent. The company's revenue came to 5.7 billion dollars, at a 3 percent year-on-year decline. The decline was largely due to worse results from the company's...

People

Yuron White joins Under Armour as SVP sportswear, run, basketball/Curry and collaborations

On April 29, 2024, Yuron White joined Under Armour as SVP, sportswear, run, basketball/Curry and collaborations. White, the company said in a media release, brings 25 years of experience working in sportswear, with deep expertise in footwear. Based out of the company’s Portland office, he will report to Yassine Saidi, the company’s chief product...

People

Under Armour founder Kevin Plank assumes CEO role

Under Armour has named Kevin Plank as president & chief executive officer, effective April 1, 2024. Plank will succeed Stephanie Linnartz. In connection with Plank's appointment, the company said, Dr. Mohamed A. El-Erian, an independent director since 2018 and lead director since 2020, will become the non-executive chair of the board. Plank will...

BusinessFeatured

Under Armour raises profit outlook amid declining sales

Third quarter revenues at Under Armour were down 6 percent or 7 percent currency neutral to 1.5 billion dollars. Updating its outlook, the company said fiscal year 2024 revenue is expected to be down 3 to 4 percent, tightening the previous expectation of a 2 to 4 percent decline. The company’s FY24 gross margin is expected to be up 120 to 130...