Under Armour news and archive

BDT snaps up 100 million dollars in Under Armour shares

Sportswear giant Under Armour has announced that funds managed by BDT Capital Partners have purchased around 16 million class C shares from the brand’s executive chair and chief Kevin Plank. The firm, which is an affiliate of merchant bank BDT & MSD Partners, already held an existing presence at Under Armour, with these newly purchased shares...

ManagementFeatured

Under Armour swings to Q4 profit, but stock drops on FY24 outlook

Under Armour swung to a profit in its unaudited fourth-quarter results, but its stock fell due to a weaker FY24 outlook than analysts had expected. The US sportswear giant posted a net income of 170.5 million dollars in the quarter ended March 31, compared to a loss of 59.6 million dollars a year earlier. That came as revenue rose 8 percent to...

Business

Under Armour issues 75 million dollars in stocks to new ambassador Stephen Curry

Days after unveiling him as its new ambassador, sportswear giant Under Armour has issued NBA star Stephen Curry with stock units valued at 75 million dollars. The price reflects an award of restricted stock units worth over 8.8 million shares in the company’s Class C common stock. The units were issued to the WSC and AC Family Revocable Trust,...

People

Under Armour and Stephen Curry enter long-term partnership

Activewear brand Under Armour, Inc. (UA) announced the extension of its partnership with four-time NBA Champion and Golden Gate Warriors point guard Stephen Curry. The plan is to “capture market share, fuel business growth and create new business opportunities on a global basis”, as explained in the press release. Curry first collaborated with...

Retail

Under Armour opens Brand House in Liverpool

Under Armour has opened its first UK Brand House at Liverpool One, in a space that looks to cater to both athletes and consumers. Connected fitting rooms at the 3,000 square foot location will provide visitors the opportunity to feel, try and learn about the products, the brand said in a release, which will be further emphasised by interactive...

Business |Interview Featured

Under Armour’s chief product officer talks the casualisation of sportswear and post-pandemic strategies

Being a woman in a male-led environment, while initially presenting itself as a challenge, can actually come with a plethora of opportunities, giving a perspective that can determine what is missing in the industry and what needs to change. This is something Lisa Collier, Under Armour’s chief product officer, has excelled in, as seen in the...

ManagementFeatured

Under Armour's Q3 revenues increase, raises outlook

For the third quarter, Under Armour revenue was up 3 percent or 7 percent currency neutral to 1.6 billion dollars compared to the prior year. According to Reuters, after the company raised its annual profit forecast, its shares rallied up 8 percent premarket. Diluted earnings per share are now expected to be in the range of 71 cents to 75 cents....

Report

Under Armour appoints two new board members

Under Armour, Inc. has announced the appointment of Carolyn Everson and Patrick Whitesell as members of its board of directors effective February 1, 2023. In addition, the company said in a statement, longtime member Harvey Sanders will retire from Under Armour's board on March 31, 2023. As previously announced, Stephanie Linnartz will join the...

ManagementFeatured

Marriott International president Stephanie Linnartz to join Under Armour as CEO

Under Armour, Inc. has announced that Stephanie Linnartz will join the company as president, chief executive officer, and member of its board of directors, effective February 27, 2023. "As a 25-year veteran of one of the world's most respected global companies, we are thrilled to welcome Stephanie to the brand. She is a proven growth leader with...

Report

Maryland governor-elect Wes Moore steps down from Under Armour board

Wes Moore has stepped down from Under Armour, Inc. board of directors effective immediately due to his election as governor of the state of Maryland. "On behalf of the entire team, I'd like to congratulate Wes, and thank him for his dynamic leadership as well as the significant contributions he made as a member of Under Armour's board of...

ManagementFeatured

Under Armour lowers sales and earnings outlook

Revenue at Under Armour Inc. was up 2 percent or 5 percent currency neutral to 1.6 billion dollars compared to the prior year. The company has revised its outlook for the year ahead due primarily to a more challenging retail environment and additional negative impacts from changes in foreign currency. "We're pleased to have delivered...

ManagementFeatured

David Baxter and Mehri Shadman to join Under Armour’s executive leadership team

Under Armour, Inc. has announced that effective October 24, David Baxter and Mehri Shadman will join its executive leadership team. The company said in a release that Baxter is set to assume a regional leadership role as president of the Americas, succeeding Stephanie Pugliese, who will be stepping down from her role and leaving the company....