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Tag: armour

Under Armour details big restructuring charges; to furlough employees

Citing the “acute shock” to its business resulting from COVID-19, Under Armour outlined a series of cost-cutting measures as the financial toll of the pandemic rises. In separate news, the athletic apparel brand detailed a previously (pre-pandemic) planned restructuring initiative that is designed to reduce costs and improve future profitability and cash flow generation. It …

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My knight in shining armour | Letters | World news

Food has become a major issue for us all and, as an 80-year old, I have been unsuccessful in securing home deliveries from local supermarkets, and I am now exhorted not to shop at all. To my rescue came a knight in shining armour, in the form of John Vincent, co-founder of Leon restaurants. I …

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Nike, Under Armour taking hits amid NBA cancellation

A man wearing a face mask walks past a Nike store in Central Business District, Beijing, China on February 17, 2020. Andrea Verdelli | Getty Images The coronavirus outbreak spurring the NBA to suspend the pro basketball season indefinitely could mean bad news on top of already bad news for sporting goods companies like Nike. “COVID-19 …

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Under Armour (UAA) fiscal fourth-quarter 2019 earnings miss estimates

An Under Armour store front is seen on November 04, 2019 in Sunrise, Florida. Joe Raedle | Getty Images Under Armour is calling for sales to drop in 2020, as it struggles to rally shoppers behind its sweat-wicking shirts and training sneakers, faced with heightened competition from Nike and Lululemon. The company also said Tuesday …

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Under Armour expects shipping delays, sales hit because of coronavirus

People walks past a Under Armour clothing store in Siam Center, Bangkok. Guillaume Payen | SOPA Images | LightRocket | Getty Images Under Armour joins a growing list of retailers that expect to take a hit because of the deadly coronavirus outbreak in China, calling for shipping delays and obstacles in obtaining certain fabrics for …

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Jim Cramer says there’s no reason to own Under Armour stock

CNBC’s Jim Cramer on Tuesday expressed dismay at Under Armour‘s disappointing quarter, suggesting there’s little reason to invest in the athletic apparel-maker. “Maybe Nike is just too powerful,” Cramer said on “Squawk on the Street.” “This is one of the rare times where I’ve seen, [Under Armour] may have the better product but it doesn’t …

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New Under Armour CEO makes C-suite changes

Patrick Frisk, who succeeded Kevin Plank as Under Armour CEO on Jan. 1, has made his first executive appointments — including one that is a first for the brand.  The athletic goods company promoted Colin Browne to COO, the position previously held by Frisk. Browne previously served as the company’s chief supply chain officer from …

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Under Armour ‘lost it many years ago’

The founder of leggings maker Lululemon thinks the market for athletic apparel today is a four-way race between Nike, Adidas, Lululemon and Chinese apparel manufacturer Anta Sports. Notice what company isn’t on that list? Under Armour. “I think Under Armour kind of lost it many years ago,” Lululemon founder Chip Wilson, who is no longer …

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Under Armour reportedly hid slowing demand in 2016 by shifting sales

An Under Armour store front is seen on November 04, 2019 in Sunrise, Florida. Joe Raedle | Getty Images Under Armour CEO Kevin Plank responded Friday to a report that said the company borrowed business from future quarters to hide slowing demand in 2016, saying it called into question the company’s integrity but it remains …

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Under Armour (UAA) earnings Q3 2019

Kevin Plank, CEO of Under Armour. Adam Jeffery | CNBC Under Armour is set to report third-quarter earnings before the market open on Monday. Here’s what analysts are expecting, based on Refinitiv estimates: Earnings per share: 18 cents expected Revenue: $1.41 billion expected Over the weekend, The Wall Street Journal reported that Under Armour was facing …

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