Report: Under Armour May Exit Notre Dame License
SGB UpdatesNotre Dame's exclusive negotiating window with apparel sponsor Under Armour has expired, potentially leading to a new brand sponsor for the University. (Read More)
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EXEC: Under Armour’s New CEO Delivers Playbook To Revive Growth
SGB ExecutiveIn her first address to the investment community, Stephanie Linnartz, Under Armour’s new CEO, declared, “Growth is without a question our highest priority.” She cited footwear, women, sport style and full-price stores as untapped opportunities but particularly stressed an urgency for Under Armour to establish a more-premium positioning and amplify brand heat. (Read More)
Under Armour Swings To Fiscal Q4 Profit On Footwear Growth; Inventory Up 44 Percent
SGB UpdatesUnder Armour reported that revenue for the fiscal fourth quarter was up 7.5 percent to $1.40 billion (+10 percent currency-neutral) in the period ended March 31. Net income was $170.5 million for the quarter, compared to a loss of $59.6 million in the prior-year quarter. (Read More)
Stephen Curry Earns $75M Stock Grant Under New Under Armour Contract
SGB UpdatesUnder Armour, Inc., according to a regulatory filing, awarded Golden State Warriors star guard Stephen Curry restricted stock units for 8.82 million shares of its Class C common stock as part of his new long-term contract with the company. (Read More)
Under Armour Names Steph Curry President of Curry Brand in Extended Partnership
SGB UpdatesUnder Armour Inc. has extended and expanded its partnership with Golden State Warriors point guard and four-time NBA Champion Stephen Curry in a deal that extends beyond his retirement. As part of the new terms, Curry becomes president of the Curry Brand. (Read More)
EXEC: Under Armour Downgraded On Competitive Pressures
SGB ExecutiveJ.P. Morgan lowered its rating on Under Armour to “Neutral” from “Overweight” due in part to elevated inventory levels that drive promotions across the retail marketplace and more direct competition from Nike and Adidas. (Read More)
BSN Sports, Under Armour Partner With Ohio’s Lima Central Catholic High School
SGB UpdatesBSN Sports and Under Armour entered into a partnership agreement with the Lima Central Catholic High School in Lima, OH, to provide uniforms and apparel through its co-sponsored Women of Will program. (Read More)
Under Armour Debt Rating Outlook Lowered
SGB UpdatesS&P Global Ratings revised its outlook on the debt ratings of Under Armour to stable from positive as the company's operating performance has weakened, leading S&P to expect soft demand and margin pressure to last longer than previously anticipated. (Read More)
EXEC: Under Armour Warns Of Ongoing Margin Pressures
SGB ExecutiveUnder Armour is making progress in its recent brand repositioning that includes better targeting teens and tapping lifestyle offerings. However, shares fell $1.01, or 8.2 percent, to $11.22 Wednesday as management warned on an analyst call that markdown pressures felt in its most recent quarter will continue in coming quarters. (Read More)
Under Armour Raises Full-Year Guidance On Strong Q3 Beat
SGB UpdatesUnder Armour, Inc. raised its earnings guidance for the year as its earnings for the fiscal third quarter ended December 31 easily topped Wall Street’s targets as gross margin pressures were offset by cost controls. Sales were slightly above consensus targets. One area of concern was inventory levels, which were up 50 percent. (Read More)
Origin Taps Under Armour Co-Founder As Strategic Advisor
SGB UpdatesOrigin has tapped Under Armour Co-Founder Kip Fulks as a full-time strategic advisor and partner. (Read More)
Under Armour Adds Two To Board As Saunders Departs
SGB UpdatesUnder Armour, Inc. appointed Carolyn Everson and Patrick Whitesell to its board of directors effective February 1, 2023. Longtime UA board member Harvey Sanders will retire on March 31, 2023. (Read More)
Under Armour To Open Second Store In Manhattan
SGB UpdatesUnder Armour has signed a 6,750-square-foot lease to open a store in the Flatiron District of Manhattan, according to The Real Deal. (Read More)
BSN Sports, Under Armour Partner With Schreiner University
SGB UpdatesBSN Sports and Under Armour established a new athletic partnership with Schreiner University Athletics in Kerrville, TX. (Read More)
Under Armour Appoints New Corporate President & CEO
SGB UpdatesUnder Armour, Inc. hired current Marriott International President Stephanie Linnartz as president & CEO and as a member of UA's Board of Directors, effective February 27, 2023. (Read More)
Under Armour Partners With XFL
SGB UpdatesUnder Armour and the XFL reported it entered into a partnership. Under the terms of the agreement, UA becomes its "official" uniform provider beginning with the 2023 XFL season for all on-field play, including jerseys, base layers, sideline, and training apparel. (Read More)
Maryland Governor-Elect Steps Down From Under Armour’s Board
SGB UpdatesUnder Armour Inc. announced that Wes Moore has stepped down from its Board of Directors effective immediately due to his election as governor of the state of Maryland. (Read More)
EXEC: Under Armour’s Shares Pop On Earnings Beat
SGB ExecutiveShares of Under Armour closed up about 12 percent on Thursday after the company reported better-than-expected earnings for its latest quarter while only slightly lowering its full-year guidance. Under Armour interim president and CEO Colin Browne told analysts on a call, "In a highly challenging retail environment, we're pleased that we're able to deliver second-quarter results that were in line with our expectations." (Read More)
Under Armour Slightly Lowers Full Year Outlook
SGB UpdatesUnder Armour Inc. slightly reduced its EPS and sales guidance for the year despite reporting fiscal second-quarter results that were in line with company expectations and just ahead of Wall Street targets. (Read More)
Under Armour Announces Two Executive Leadership Roles
SGB UpdatesUnder Armour, Inc. named David Baxter as president of the Americas, succeeding Stephanie Pugliese who resigned from her position. Mehri Shadman was promoted as chief legal officer and corporate secretary, replacing John Stanton, who retires at the end of 2022. (Read More)