Under Armour said Friday it expects margins to be pressured for the rest of the year on the back of increased promotions, even as online demand helped the sportswear maker post a smaller-than-expected loss.
Phil Fox joins Under Armour from VF Corporation, where he was most recently director of sales for Vans in EMEA. In his new role, he will focus on further developing a digital-first strategy with commercial partners.
Under Armour said it will discontinue its partnership with UCLA - a 15-year, $280 million accord announced in 2016 that was billed as the largest apparel deal in the history of American collegiate sports.
Under Armour Inc forecast on Monday a 50% to 60% drop in second-quarter revenue as most of its stores remained closed because of the COVID-19 pandemic, sending the athletic apparel maker’s shares down about 11%.
As the lockdown continues, consumer e-shopping choices are evolving and a new report shows they want luxury, face masks, rainbow wear, exercise clothing, kidswear and anything worn by the Duchess of Cambridge.
Trent Alexander-Arnold, the star defender of Liverpool FC, and heavyweight boxing champion Anthony Joshua join Under Armour to donate performance apparel to frontline medical workers in the UK and across Europe.
A group of employers' organisations, unions and major brands in the garment industry are working with the International Labour Organisation (ILO) to support manufacturers affected by the coronavirus outbreak.
Collier will provide multi-disciplined specialty retail expertise to Under Armour's leadership team, and will have oversight of the company's category management model, product, merchandising and design functions.