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
From the start, 2024 promised to be a tough year for fashion stocks. Inflation has made living more expensive, interest rates are up and geopolitics seem all the more unsettled — from conflicts in Ukraine and Gaza to edge-of-your-seat elections in Europe and, now, the U.S. The fervor for artificial intelligence and big tech helped … 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 is expanding its reach beyond the field and the court for its fall campaign. The Baltimore-based brand this week will debut a new marketing campaign focused on sportswear rather than just sports. As it explains in the marketing materials: “You know us for sweat-wicking shirts, for infrared training tech, for energy-returning running shoes … 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
In January, Under Armour and Celanese Corp., a global specialty materials and chemical company, teamed up to develop a new fiber for performance stretch fabrics called Neolast. The fiber provides an alternative to spandex, the elastane fiber that is used predominantly to give stretch to apparel products. Neolast, which Under Armour said offers durability, comfort … Read more
About 30,000 runners are expected to line up at the starting line of the April 15 Boston Marathon — each with the hope of finishing 26.2 miles later with a finisher medal around their necks. The fact that those keepsakes will be stamped with the name of the race’s lead sponsor — Bank of America … 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
As U.S. cities like Detroit and St. Louis are building ecosystems for local production, a Baltimore contingent has been quietly laying the groundwork to strengthen the needle trade industry. In Baltimore, the aim is to revive the city’s needle trade and to advance design innovation as well as area businesses through Sew Bromo, an organization … Read more
