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Tag: armour

Under Armour sells more online and direct to customers as wholesale revenues fall

Image courtesy of Under Armour Under Armour today reported a 17% lift in direct-to-consumer sales in its third quarter as shoppers bought direct from the sportswear brand. As a result, its direct sales reached $540m (£411m) but revenues in its larger wholesale business fell by 7% to $830m (£631.6m).   Overall, Under Armour’s revenues across …

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Under Armour revenues bounce back

Revenues remained flat year on year at $1.4bn (£1.08bn). Clothing revenue decreased 6% year on year to $927m (£717m), while footwear revenue increased 19% to $299m (£231m), and accessories revenue increased 23% to $145m (£112m) compared to 2019. Wholesale revenue decreased 7% to $830m (£642m) in the period, and direct-to-consumer revenue increased 17% to $540m (£4128m), driven by continued strong growth …

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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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