Under Armour news and archive

Under Armour shows improvement in operating results

Under Armour, Inc. started its financial year with a slight 4 percent drop in revenue. The US company also reported a net loss in the first quarter. Revenue amounted to 1.1 billion dollars. The EMEA region was the only region where the company did not experience a decline in revenue. Here, revenue increased by 10 percent. The company announced a...

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Business

Under Armour Q1 revenue up 35 percent, raises full-year outlook

US sportswear brand Under Armour has reported a 35 percent increase in revenue for the first quarter of the year and raised its full-year outlook. The Baltimore, Maryland-based brand saw its revenue increase to 1.25 billion dollars in the three months to March 31 compared to 930 million dollars a year earlier. Wholesale revenue increased 35...

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Fashion

Under Armour and Steph Curry launch purpose-led Curry Brand

US sportswear brand Under Armour has teamed up with three-time NBA champion Stephen Curry to launch Curry Brand, a purpose-led performance label aiming to ensure young people have equitable access to sport. Only 22 percent of kids growing up in low-income households in the US are currently participating in youth sports, according to Under...

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Video

Video: Under Armour's demise during the athleisure boom

In this video, CNBC looks at the sports apparel brand, Under Armour, and its demise during the athleisure boom. The company’s sales growth has slowed in North America and its stocks have fallen. Can Under Armour rebuild its sales? Watch the video below. Source: CNBC via YouTube

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Business

Under Armour’s Q3 sales remain flat, forecasts better revenue estimates

Under Armour, Inc., for the third quarter, reported that revenue was flat at 1.4 billion dollars compared to the prior year. The company said, gross margin decreased 40 basis points to 47.9 percent, operating income was 59 million dollars, while adjusted operating income was 133 million dollars. The company added that net income was 39 million...

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Business

SEC sends Under Armour Wells notice

Under Armour has received a possible enforcement action from the SEC (Securities and Exchange Commission.). The notice in question is a Wells notice inquiring about the accounting treatment of Q3 and Q4 sales from 2016. Last week, on July 22, Under Armour's former CEO and current executive chairman, Kevin Plank, and their current CFO, David...

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Retail

Under Armour announces phased reopening of stores in North America

Under Armour plans to have reopened almost half of its North American stores by the end of this week. The company first began opening stores in the U.S. on May 15. The company continues to follow advice of government and public health officials as it reopens additional stores on a case-by-case basis. It has also developed strict health and...

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Business

Under Armour posts Q1 net loss of 152 million dollars, sales down 23 percent

For its first quarter, Under Armour, Inc. reported revenue decrease of 23 percent or down 22 percent currency neutral to 930 million dollars, with approximately 15 percentage points of the decline related to Covid-19 pandemic impacts in the quarter. Wholesale revenue decreased 28 percent to 592 million dollars and direct-to-consumer revenue was...

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Business

Under Armour appoints Lisa Collier as Chief Product Officer

Under Armour, Inc. has announced the appointment of Lisa Collier as Chief Product Officer. With more than 30 years across global brand leadership, product development, supply chain and merchandising, the company said in a statement, Collier will provide multi-disciplined specialty retail expertise to Under Armour’s leadership team. She will...

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Business

Under Armour withdraws outlook, announces temporary layoffs

Under Armour, Inc. has announced actions it is taking to address the financial impact of the COVID-19 pandemic. Additionally, the company said in a statement that the company’s board of directors has approved a previously planned restructuring initiative designed to rebalance its cost base to further improve future profitability and cash flow...

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Business

Under Armour briefly shuts North America stores

Like most other retailers, Under Armour is temporarily closing its stores in North America amid the coronavirus threat. Under Armour said in a statement: “Because the health and safety of our teammates, athletes and customers is our top priority, Under Armour will close all stores in North America from March 16 through March 28, 2020. All our...

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Business

Coronavirus outbreak to impact Under Armour’s Q1 sales by 50 to 60 million dollars

Under Armour, Inc. revenue was up 4 percent to 1.4 billion dollars, while the revenues also rose 4 percent currency neutral in the fourth quarter. The company said, gross margin increased 230 basis points to 47.3 percent , while net loss was 15 million dollars or 3 cents diluted loss per share “Under Armour is an operationally better company...