Under Armour is now expecting a larger net loss due to higher-than-expected costs in its restructuring plan. Previously, the Baltimore-based sportswear brand expected to incur pretax restructuring and related charges of about $70 million to $90 million as a result of its fiscal 2025 restructuring plan. However, a decision to close one of its primary distribution facilities in Rialto, … Read more
Kevin Plank won’t be going hungry anytime soon. The Under Armour founder, who returned to the chief executive officer position this spring, received $4.6 million in total compensation for fiscal 2024, up from the $3 million he received in fiscal 2023 when he was executive chairman and brand chief, according to the company’s just-released proxy … Read more
Under Armour Inc. has agreed to pay $434 million to put a 2017 class action lawsuit to bed. The case shined a bright — and ultimately costly light — on the practice of “pulling forward” sales from another quarter as well as Under Armour’s disclosures and accounting of sales in 2015 and 2016. In 2021, … Read more
Kevin Plank is back and he’s not happy. In his first earnings call since returning to Under Armour as its chief executive officer, Plank laid out a significant restructuring plan that will include an unspecified number of layoffs, a 25 percent reduction in product, a renewed focus on its historic strength in menswear, substantially less … Read more
The Stephanie Linnartz era at Under Armour has come to an abrupt end and Kevin Plank is back in the driver’s seat. On Wednesday after the stock market closed, the Baltimore-based sports brand said that Linnartz would be stepping down as president, chief executive officer and a member of the board and will be succeeded … Read more
