Under Armour news and archive

Under Armour offers support following tragic Baltimore bridge collapse

US sportswear brand Under Armour has offered its support to the local governor following the tragic collapse of the Francis Scott Key Bridge in Baltimore earlier this week. The former second-longest continuous truss bridge in the United States collapsed into the Patapsco River on Tuesday morning around 1.30 am after a cargo ship lost power and...

People

Under Armour founder Kevin Plank assumes CEO role

Under Armour has named Kevin Plank as president & chief executive officer, effective April 1, 2024. Plank will succeed Stephanie Linnartz. In connection with Plank's appointment, the company said, Dr. Mohamed A. El-Erian, an independent director since 2018 and lead director since 2020, will become the non-executive chair of the board. Plank will...

BusinessFeatured

Under Armour raises profit outlook amid declining sales

Third quarter revenues at Under Armour were down 6 percent or 7 percent currency neutral to 1.5 billion dollars. Updating its outlook, the company said fiscal year 2024 revenue is expected to be down 3 to 4 percent, tightening the previous expectation of a 2 to 4 percent decline. The company’s FY24 gross margin is expected to be up 120 to 130...

People

Under Armour names Kevin Ross as managing director of EMEA

Under Armour has appointed Kevin Ross as its new senior vice president, managing director of Europe, Middle East & Africa (EMEA). With nearly 20 years of experience growing high profile brands including Adidas, TaylorMade, Under Armour, and Yeti, the company said, Ross brings proven talent and regional expertise to the company. Joining on...

FairsFeatured

What to expect at the NRF 2024: Retail's Big Show

NRF Retail Big Show is returning to the Jacob K. Javits Convention Center in New York this weekend for its 2024 edition. One of the industry's leading events, the National Retail Federation's (NRF) Big Show features talks, exhibitions, live demonstrations, and more, covering topics ranging from innovation to new technologies, leadership, and...

Business

Under Armour names new CPO and Americas president

Under Armour has announced two new leadership appointments, both of whom are set to join the company either at the end of the month or in February. Among the new arrivals is that of Yassine Saidi, who will be taking on the role of chief product officer, for which she has been tasked with building “winning product strategies” for each category...

Fashion

Under Armour partners with James Heal to tackle fibre-shredding

Under Armour is partnering with precision testing solutions supplier James Heal to address the invisible sustainability threat microfibres and microplastics pose to the environment. The sportswear brand is working with UK-based James Heal to make its microfibre-shred test available to the wider industry to help understand and mitigate the impact...

BusinessFeatured

Under Armour lowers revenue guidance

Second quarter revenue at Under Armour remained flat and declined 1 percent currency neutral versus the prior year at 1.6 billion dollars. For fiscal year 2024, revenue is expected to be down 2 to 4 percent versus the previous expectation of flat to up slightly, gross margin is expected to be up 100 to 125 basis points, operating income and...

Business

Under Armour names Gap veteran as chief supply chain officer

Sportswear giant Under Armour has appointed Shawn Curran to the role of chief supply chain officer after what it said was a comprehensive search and interview process. In the position, which he will take on from October 16, Curran will oversee end-to-end planning and go-to-market, product sourcing, manufacturing and quality, global vendor base...

Business

Under Armour names John Varvatos chief design officer

Sportswear giant Under Armour has announced the appointment of John Varvatos to the position of chief design officer, effective September 11. Varvatos, who will also be joining the brand’s board of directors, has already been consulting Under Armour since spring, but will now be stepping in to oversee the design direction across the company’s...

BusinessFeatured

Under Armour Q1 revenues drop, outlook maintained

First quarter revenue at Under Armour was down 2 percent or down 1 percent currency neutral to 1.3 billion dollars. The company’s gross margin declined 60 basis points to 46.1 percent, operating income was 21 million dollars, net income was 9 million dollars and diluted earnings per share were 2 cents. "We're pleased with how we have navigated...

Fashion Featured

Under Armour signs major hemp sourcing deal

Under Armour, the sportswear giant, has inked a substantial hemp sourcing agreement valued at 9 million Australian dollars (equivalent to 5.86 million USD). The arrangement, spanning an initial period of three years, has been established with Hemp Black, a subsidiary of the Australian firm Ecofibre. The strategic partnership facilitates the...