All Under Armour articles – Page 9
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ArticleSports stocks rose by 10.8% in Q3
The sporting goods sector confirmed its resilience in the third quarter of 2020 with an average increase of 10.8 percent in the public companies’ share price between June 30 and Sept. 30. Comparatively, two relatively bullish American indexes, the Dow Jones 30 and the S&P 500, posted gains of only ...
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ArticleVulcabras takes over Alpargatas’ Mizuno license
An asset reshuffle involving three of Brazil’s leading footwear manufacturers will result in Vulcabras Azaleia focusing on sports with its Olympikus brand and the distribution of Under Armour in Brazil, while getting out of the women’s sector and taking over a Mizuno license from Alpargatas, which will concentrate on its ...
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News briefs
Under Armour expands its restructuring plan
Under Armour is now planning to lay off a total of 600 employees, working primarily in its corporate offices around the world and representing around 9 percent of its total staff, as part of an expanded restructuring program involving pre-tax charges of between $550 million and $600 million to be ...
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News briefs
A special director joins Under Armour’s board after a new shareholders’ complaint
Under Armour has announced that Wes Moore, the chief executive of the Robin Hood Foundation, has joined its board of directors. The foundation has distributed more than $3 billion to organizations that address disparities in education, housing, food insecurity and workforce development. Moore, 41, has worked in investment banking and ...
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News briefs
Under Armour UK partners with Topgolf
Under Armour has announced a new strategic partnership in the U.K. with Topgolf Entertainment Group, the global sports and entertainment community that connects around 100 million fans. The partnership agreement will see the two companies collaborate in the U.K. on a series of projects to engage with fans and players, ...
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Infographics & DataRanking - The top 10 athletic footwear brands
This exclusive chart shows the leading international footwear brands, including Nike, Adidas, Skechers, VF Corp., New Balance, Puma, Asics. Ranking by Revenue and by %-growth vs last year. This is exclusive data and analysis for Premium Members.
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ArticleUnder Armour posts heavy losses
Under Armour unveiled poor results for the second quarter, recording a net loss of $182.8 million, compared with a net loss of $17.3 million for last year’s corresponding period, as sales tumbled by 41 percent due to store closures related to the pandemic. About 80 percent of points-of-sale worldwide were ...
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News briefs
UA makes new diversity pledges
On its website Under Armour has published new objectives in its quest to “advance diversity and inclusion” in its ranks. In addition to filling 30 percent of its executive posts above the grade of director with “Black, Indigenous, and People of Color (BIPOC)” by 2023, as it has already pledged ...
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News briefs
Under Armour reportedly puts up a fitness app for sale
Under Armour is reportedly looking for an investor to take over MyFitnessPal (MFP), a food consumption and exercising app and website that it bought for $475 million in 2015, at around the same time as Adidas’ $220 million acquisition of Runtastic and Asics’ $85 million buy of Runkeeper. MFP offers ...
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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 ...
