All Under Armour articles – Page 7
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News briefs
Under Armour’s athletics segment and supply chain benefit from the crisis
According to its chief executive and chief financial officer, respectively Patrik Frisk and Dave Bergman, Under Armour is emerging from the pandemic with a sharper focus on the athletic-performance segment and an overhauled supply chain. Speaking at the Stifel Cross Sector Insights Conference, they noted that Covid-19 quarantines focused many ...
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ArticleFace masks for athletes and the public
We have already talked about the numerous initiatives that sports brands have taken to help health workers in the fight against the coronavirus outbreak. Some of them, including Under Armour and Buff, are now focusing on high-tech face masks for athletes or the general public.
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News briefs
Centric Brands goes bankrupt
Centric Brands has filed a voluntary application for Chapter 11 bankruptcy protection, with the support of Blackstone and other secured lenders who are providing $435 million in debtor-in-possession financing. The company said the proceedings will not impact its decision to reopen relevant locations. Centric Brands is a licensee for more ...
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Short stops
Marketing
+++ Nike has entered into a multi-year partnership with the University of Indianapolis, through BSN Sports, that makes Nike the exclusive outfitter for 22 sports teams of the university, effective July 1st +++ Under Armour is partnering with BSN Sports on a new five-year deal that makes the brand the ...
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News briefs
UA and others commit to pay suppliers for certain cancelled orders
Under Armour has committed to the PayUp campaign, an initiative that urges fashion brands to pay their garment factories for orders that are both completed and in production, and yet cancelled or delayed because of the coronavirus pandemic. The campaign was launched by Remake, a workers’ rights organization, at the ...
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News briefs
Under Armour is manufacturing face masks
Under Armour (UA) is making special face masks that require no sewing to support the healthcare professionals at the nearby University of Maryland Medical System (UMMS) in their fight against the coronavirus pandemic. UA’s global headquarters is located in Baltimore, Maryland. The sports brand is also working on face shields ...
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News briefs
Under Armour’s lending covenants are relaxed
Under Armour has obtained a revision to its credit agreement with JP Morgan Chase that reduces it required debt/Ebitda ratio but forces it to maintain a minimum liquidity of $450 million through the end of 2021. Also, the aggregate revolving credit facility has been cut from $1.25 billion to $1.10 ...
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ArticleUnder Armour sees drops of 23% in Q1 and up to 60% in Q2
Under Armour reported a 22.8 percent hit on its revenues for the first quarter of 2020, down to $930.2 million, blaming about 15 percentage points of the decrease on Covid-19 and warning that they might drop by between 50 and 60 percent in the second quarter. Unlike its peers, the ...
