BSN Sports and Under Armour established a new athletic partnership with Schreiner University Athletics in Kerrville, TX.
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Under Armour Appoints New Corporate President & CEO
Under 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.
Under Armour Partners With XFL
Under 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.
Maryland Governor-Elect Steps Down From Under Armour’s Board
Under 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.
EXEC: Under Armour’s Shares Pop On Earnings Beat
Shares 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.”
Under Armour Slightly Lowers Full Year Outlook
Under 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.
Under Armour Announces Two Executive Leadership Roles
Under 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.
Report: Steph Curry Nearing $1B Lifetime Contract With Under Armour
Steph Curry is poised to sign a lifetime contract with Under Armour worth “potentially more than $1 billion,” according to a report from Rolling Stone.
Under Armour Extends Partnership With University of Massachusetts Lowell
The UMass Lowell Athletic Department has extended its partnership with Under Armour and All Sports Heroes through 2027.
Under Armour Named Official Outfitter Of Spire Academy
Spire Academy, located in Geneva, OH, said Under Armour has become the official outfitter of its student-athletes.
EXEC: Under Armour Looking For New CEO To Accelerate Growth
In his first quarterly analyst call since stepping down as CEO in 2019 to become executive chairman and brand chief, Kevin Plank said that while Under Armour has strengthened its “strategic operational and financial foundations” over the last several years, the search is ongoing for a permanent CEO who can “drive more robust top-line growth and increase profitability over the long term.”
Under Armour Lowers FY Earnings Guidance On Margin Contraction
Under Armour, Inc. reported first-quarter results that matched profit expectations and slightly topped on revenue. The company maintained its full-year revenue outlook but reduced its earnings outlook amid continued gross margin pressures. On an adjusted basis, EPS is expected in the range of 47-to-53 cents a share compared to the previous expectation of 63-to-68 cents.
Under Armour To Pay $67 Million To Settle UCLA Lawsuit
Under Armour has agreed to pay UCLA nearly $67.5 million to settle the school’s lawsuit with the company, according to a report in the Los Angeles Times. UCLA was seeking over $200 million in damages in its original lawsuit filed in August 2020 over Under Armour’s terminated UCLA contract.
Jefferies Downgrades Lululemon And Under Armour
Shares of Lululemon Athletica and Under Armour were under pressure on Monday after downgrades by Jefferies. Analysts led by Randal Konik said Lululemon faces tough comparisons and “rising competition” while Under Armour is being sidetracked by “management volatility and lagging fundamentals.”
Under Armour Downgraded On Brand Momentum Concerns
Cowen & Co. reduced its rating on Under Armour from “Outperform” to “Market Perform” due to concerns over the company’s momentum amid elevated inventory levels across the marketplace and increasing inflationary pressures.
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