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Report: Under Armour May Exit Notre Dame License

May 11, 2023 SGB Update

Notre Dame’s exclusive negotiating window with apparel sponsor Under Armour has expired, potentially leading to a new brand sponsor for the University.

EXEC: Under Armour’s New CEO Delivers Playbook To Revive Growth

May 9, 2023 SGB Executive

In 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.

Under Armour Swings To Fiscal Q4 Profit On Footwear Growth; Inventory Up 44 Percent

May 9, 2023 SGB Update

Under 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.

Stephen Curry Earns $75M Stock Grant Under New Under Armour Contract

April 6, 2023 SGB Update

Under 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.

Under Armour Names Steph Curry President of Curry Brand in Extended Partnership

March 30, 2023 SGB Update

Under 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.

EXEC: Under Armour Downgraded On Competitive Pressures

March 14, 2023 SGB Executive

J.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.

BSN Sports, Under Armour Partner With Ohio’s Lima Central Catholic High School

February 28, 2023 SGB Update

BSN 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.

Under Armour Debt Rating Outlook Lowered

February 13, 2023 SGB Update

S&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.

EXEC: Under Armour Warns Of Ongoing Margin Pressures

February 8, 2023 SGB Executive

Under 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.

Under Armour Raises Full-Year Guidance On Strong Q3 Beat

February 8, 2023 SGB Update

Under 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.