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Under Armour is laying off workers as retailer says North America sales will plunge this year
cnbc.com/2024/05/16/under-armour-uaa-earnings-q4-2024.html

Key FactsUnder Armour announces layoffs and predicts sales decline
May 16, 2024 · Reading time: ~30 sec.
Summary created with AI assistance · Source: cnbc.com
Summary created with AI assistance · Source: cnbc.com
- Under Armour announced a comprehensive restructuring plan as sales in North America dropped by 10% and the trend is expected to worsen in the current fiscal year.
- The athletic apparel retailer saw profits plummet by over 96% in the fourth quarter and plans to reduce style counts by approximately 25% to enhance competitiveness.
- The company aims to streamline its production process to become more competitive in the market and is focused on prioritizing men's apparel to strengthen the brand.
- Founder and CEO Kevin Plank emphasized the importance of focusing on core business fundamentals to rebuild Under Armour's brand strength and increase sales.
Stephanie Linnartz ended a successful run at Marriott to become CEO at struggling Under Armour. ‘I believe in taking calculated risks’
fortune.com/longform/stephanie-linnartz-under-armour-ceo-interview/

Paid articlePaywallTV anchor had a secret phone for conversations with Under Armour founder Kevin Plank
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Paid articlePaywallWarriors' Stephen Curry, Under Armour Agree to New Contract Extended into Retirement
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Misty Copeland Is No Longer an Under Armour Ambassador: "We wish Misty the very best and look forward to seeing what else she will accomplish ...
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Under Armour headquarters backed by TIF funding deal draws mistrust and scrutiny: Mistrust lingers over a proposed $5.5 billion 235-acre megadevelopment on ...
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