Under Armour news and archive

Under Armour lowers revenue guidance

Second quarter revenue at Under Armour remained flat and declined 1 percent currency neutral versus the prior year at 1.6 billion dollars. For fiscal year 2024, revenue is expected to be down 2 to 4 percent versus the previous expectation of flat to up slightly, gross margin is expected to be up 100 to 125 basis points, operating income and...

Business

Under Armour names Gap veteran as chief supply chain officer

Sportswear giant Under Armour has appointed Shawn Curran to the role of chief supply chain officer after what it said was a comprehensive search and interview process. In the position, which he will take on from October 16, Curran will oversee end-to-end planning and go-to-market, product sourcing, manufacturing and quality, global vendor base...

Business

Under Armour names John Varvatos chief design officer

Sportswear giant Under Armour has announced the appointment of John Varvatos to the position of chief design officer, effective September 11. Varvatos, who will also be joining the brand’s board of directors, has already been consulting Under Armour since spring, but will now be stepping in to oversee the design direction across the company’s...

BusinessFeatured

Under Armour Q1 revenues drop, outlook maintained

First quarter revenue at Under Armour was down 2 percent or down 1 percent currency neutral to 1.3 billion dollars. The company’s gross margin declined 60 basis points to 46.1 percent, operating income was 21 million dollars, net income was 9 million dollars and diluted earnings per share were 2 cents. "We're pleased with how we have navigated...

Fashion Featured

Under Armour signs major hemp sourcing deal

Under Armour, the sportswear giant, has inked a substantial hemp sourcing agreement valued at 9 million Australian dollars (equivalent to 5.86 million USD). The arrangement, spanning an initial period of three years, has been established with Hemp Black, a subsidiary of the Australian firm Ecofibre. The strategic partnership facilitates the...

Fashion |In Pictures

Under Armour unveils first women's football boot

US-based sportswear brand Under Armour has revealed two new products designed for women heading into this year’s FIFA Women's World Cup, including its first football shoe designed specifically for female feet. The new Women’s UA Magnetico Elite 3 FG football boots have been designed to give female footballers better support and control,...

Business

Under Armour shuffles exec team, COO and CPO to step down

Sportswear giant Under Armour has announced a series of changes to its senior executive leadership team as it looks to drive more profitable growth throughout the company. Among the new additions are that of Jim Dausch, who has been named executive vice president, chief consumer officer, effective July 24, and the promotion of Danny Miles to...

Business

Under Armour to cut corporate workforce

US sportswear brand Under Armour is cutting 50 roles across its corporate workforce. Confirming the cuts to Footwear News, the company said: “Under Armour made the difficult decision to eliminate certain corporate roles across several functions in the business. “We sincerely appreciate the commitment and contributions these teammates made and...

Business

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...

BusinessFeatured

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...