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☆ Under Armour was a real threat to Nike. Now it’s fighting to stay relevant
▼ + stars: | 2024-05-18 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +10 min

It was the upstart athletic brand that was making real inroads against Nike, the dominant name in the industry. People saw it as a company that actually could break through and take market share from Nike among the hardcore athletes,” Swartz said. String of controversiesThe period from 2016 onward is when “things really started to fall apart” at Under Armour, Swartz said. A bulk of Under Armour products are sold through sporting goods retailers and department stores, including Macy’s and Kohl’s, and online. The basketball superstar Curry, arguably the best shooter in history, famously signed with Under Armour instead of Nike in 2013.

Persons: Armour, Stephen Curry, Jordan Spieth, Kevin Plank, Howard Schultz’s, Bob Iger’s, Plank, ”, David Swartz, Morningstar, ” Swartz, Justin Sullivan, Tommy Gilligan, ” Plank, Swartz, “, —, Stephanie Linnartz, ” Schwartz, Andrew Kelly, Merrell, Zak Stambor, Stambor, Plank’s, Noel Celis, Eric Smallwood, Dwayne Johnson, Johnson, ” Smallwood, Smallwood, Curry, Joel Embiid, Embiid, Skechers, Caitlin Clark Organizations: New, New York CNN, Nike, Starbucks, Disney, CNN, Sports, North, Maryland Terrapins, Southern Methodist Mustangs, Capital, Maryland, Reuters, —, Armour, Sports Authority, Sporting Goods, UCLA, US Securities and Exchange Commission, Footwear News, Adidas, NBA Golden State Warriors, UA Curry II, Getty, Apex Marketing, United Football League, NBA, WNBA Locations: New York, San Rafael , California, North America, College Park , Maryland, Manhattan , New York, Petaluma , California, Manila, AFP

☆ Cramer: I still have hope for Under Armour despite its weak quarterly earnings
▼ + stars: | 2024-05-16 | by ( Paulina Likos | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer hasn't lost hope in Under Armour 's turnaround, despite Thursday's poor quarterly results and a grim outlook. Quarterly revenue for Baltimore-based Under Armour declined 5% year over year to $1.3 billion, in line with Wall Street expectations. On those sales, the company delivered $7 million in net income or earnings per share of 2 cents. UA YTD mountain Under Armour stock performance year-to-date. The Under Armour brand does resonate overseas.

Persons: CNBC's Jim Cramer hasn't, Armour, Jim, Kevin Plank, Plank, Stephanie Linnartz, hasn't Organizations: UA, North America Locations: Baltimore, North

☆ Under Armour is laying off workers as retailer says North America sales will plunge this year
▼ + stars: | 2024-05-16 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Under Armour announced a broad restructuring plan on Thursday as it said sales in its largest market, North America, plunged 10% and predicted the trend will get worse throughout its current fiscal year. The athletic apparel retailer also saw profits plunge by more than 96% during its fourth fiscal quarter, compared with the year ago period. During the quarter, sales in North America dropped 10% to $772 million, worse than the $780 million that analysts had expected, according to StreetAccount. The company said it expects sales to continue to worsen in North America. Analysts had expected earnings per share of 52 cents, according to LSEG.

Persons: Armour, Kevin Plank, Stephanie Linnartz, Plank, Linnartz Organizations: CNBC, LSEG, Analysts, Marriott, Armour Locations: Manhattan , New York City, North America

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Now, he's trying to turn the company around by stepping up for a second stint at its helm. The sportswear brand said March 13 that Plank will take over its CEO role again more than four years after he left the position. The company has also struggled to define itself against competitors — most notably Nike.

Persons: Armour, —, Kevin Plank, Plank, Stephanie Linnartz, Armour wasn't Organizations: Service, Nike, Armour

☆ The burning acid behind ant stings was spotted around two stars
▼ + stars: | 2024-03-15 | by ( Ashley Strickland | ) edition.cnn.com time to read: +5 min

CNN —Astronomers using the James Webb Space Telescope have detected commonplace chemical ingredients found in vinegar, ant stings and even margaritas around two young stars, according to NASA. The complex organic molecules they observed using the space observatory’s Mid-Infrared Instrument included acetic acid, a component of vinegar, and ethanol — otherwise known as alcohol. The team also found simple molecules of formic acid, which causes the burning sensation associated with ant stings, as well as sulfur dioxide, methane and formaldehyde. Stars form from swirling clouds of gas and dust, and the leftover material from star formation gives rise to planets. Detecting complex organic molecules in space is helping astronomers to determine the molecules’ origins as well as those of other larger cosmic molecules.

Persons: James Webb, Carl Sagan, “, Webb, detections, ”, Will Rocha, Young, Ewine van Dishoeck, Harold Linnartz, Linnartz, “ Harold, ” van Dishoeck Organizations: CNN —, NASA, ESA, Hustak, Leiden University, Astrophysics, Leiden Laboratory Locations: astrochemistry, Netherlands, ices

☆ Wall Street isn't pleased that Kevin Plank is returning as Under Armour's CEO, shares plunge 12%
▼ + stars: | 2024-03-14 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Wall Street is not pleased that Under Armour founder Kevin Plank is returning as its CEO. Following the announcement, both Williams Trading and Evercore ISI downgraded Under Armour and lowered their price targets. Linnartz, a former Marriott International executive who took the helm last February, is the second CEO the company has cycled through in less than two years. Since she started at Under Armour, Linnartz had been focused on rehauling the company's C-suite, building out its loyalty program, UA Rewards, and pivoting the brand's assortment to a more athleisure-focused offering that had more stylish options for women. "All of the twists and turns have created a brand that has become increasingly confusing to consumers and to wholesale partners," Saunders continued.

Persons: Kevin Plank, Stephanie Linnartz, Plank, Evercore, Patrik Frisk, Armour, Linnartz, Plank's, Michael Binetti, William Blair, Neil Saunders, Saunders Organizations: Wall, Williams, Armour, Marriott International, Aldo, UA Locations: Houston , Texas, Plank, America, North America

☆ Here are Thursday's biggest analyst calls: Nvidia, Netflix, Tesla, Citi, Robinhood, Meta, IBM, Broadcom & more
▼ + stars: | 2024-03-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Evercore ISI reiterates Netflix as outperform Evercore raised its price target on Netflix to $640 per share from $600. Citi downgrades Chubb to neutral from buy Citi said it sees a more balanced risk/reward for the insurance company. Goldman Sachs upgrades Citi to buy from neutral Goldman said in its upgrade of Citi that shares are "compelling." Citi reiterates Nvidia as buy Citi said after a series of investor meetings that Nvidia is a "most favored name." Bernstein reiterates Nvidia and Broadcom as outperform Bernstein said Nvidia and Broadcom are still top picks at the firm.

Persons: Deere, Truist, Bernstein, Tesla, Citi downgrades Chubb, Goldman Sachs, Goldman, Wells, Berenberg, it's, Caterpillar, Morgan Stanley, Meta, Utz, Armour, Evercore, Kevin Plank, Stephanie Linnartz, Jack, Argus Organizations: Deere, UBS, Netflix, Citi, Logitech, Barclays, Thomson Reuters, Caterpillar, Nvidia, Micron, Facebook, Raytheon, Bank of America, of America, Utz, UAA, JPMorgan, IBM, Broadcom, VMware, Argus, Oracle, Oracle Corp Locations: Williams, Sonoma

☆ Under Armour’s Founder Will Return as C.E.O.
▼ + stars: | 2024-03-13 | by ( Rebecca Robbins | More About Rebecca Robbins | ) www.nytimes.com time to read: +1 min

Under Armour, the sports apparel company, said on Wednesday that its founder, Kevin Plank, would return as chief executive, in a leadership shake-up that will seek to revitalize the struggling brand. Mr. Plank, who founded Under Armour in 1996, had remained the company’s executive chair and controlling shareholder after exiting as chief executive at the end of 2019. He will take over on April 1 from Stephanie Linnartz, who led the company for just over a year. With sales slumping, the company’s stock has fallen by about 85 percent since reaching a record high in 2015. It rose slightly in after-hours trading after the news that Mr. Plank would be returning to lead the company after four years away from the job.

Persons: Armour, Kevin Plank, Plank, Stephanie Linnartz, Linnartz, Patrik Frisk, ” Organizations: Nike, LinkedIn

☆ Stocks making the biggest moves after hours: Robinhood, SentinelOne, Under Armour and more
▼ + stars: | 2024-03-13 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

UiPath — Shares popped 8% after the software company reported fourth-quarter results that beat analysts' expectations. UiPath posted adjusted earnings of 22 cents per share on $405 million in revenue, higher than the 16 cents per share on $384 million in revenue analysts polled by LSEG, formerly Refinitiv, had anticipated. SentinelOne — The cybersecurity name slipped 10% after posting guidance for the first quarter and full year that came in line with analysts' estimates, per LSEG. Robinhood — The trading platform's stock added about 8% after the company reported its selected monthly operating data for February 2024. The company posted a wider-than-expected loss in 2023 and missed its production targets by a considerable margin.

Persons: UiPath, SentinelOne, Armour, Stephanie Linnartz, Kevin Plank, Mohamed El, Robinhood, Fisker, Lennar, LSEG, —, Christina Cheddar, Berk, Darla Mercado Organizations: LSEG, Street

Kevin Plank, founder of Under Armour, during a CNBC interview on "Mad Money" on Feb. 28, 2018. Under Armour announced on Wednesday that CEO Stephanie Linnartz is stepping down from her role just over a year after she started, and founder Kevin Plank will return as the brand's chief executive. Linnartz took over as Under Armour's CEO in February 2023 after spending nearly 30 years at Marriott International, most recently as its president. Plank will remain a director on Under Armour's board but will hand over the chair position to Mohamed El-Erian, chief economic advisor at Allianz, Pimco's parent company. In a statement, Linnartz said she feels "honored" to have served as Under Armour's CEO.

Persons: Kevin Plank, Armour, Stephanie Linnartz, Linnartz, Plank, Mohamed El, Stephanie Organizations: CNBC, Marriott International, Allianz, Armour's

☆ Under Armour shares jump after it raises profit expectations amid sliding sales
▼ + stars: | 2024-02-08 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Under Armour said Thursday that its holiday-quarter sales slowed, but its earnings beat estimates as the athletic apparel retailer worked to rein in costs. Under Armour now anticipates full-year sales will decline slightly more than it previously expected. During the quarter, Under Armour's wholesale revenue, which accounts for about 60% of sales, dropped 13% to $712 million. Like its peers, Under Armour has been working to expand its sales directly to consumers through its stores and website. During the quarter, Under Armour saw those direct sales rise 4% to $741 million, driven by a 5% uptick in store revenue and a 2% jump in digital sales.

Persons: Armour, Stephanie Linnartz Organizations: LSEG, Partners, Sporting Goods, Kohl's, JD Sports Locations: Houston , Texas, North America

☆ Cramer's Lightning Round: Vertex is 'excellent'
▼ + stars: | 2023-10-05 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Topgolf's year-to-date stock performance. Stock Chart Icon Stock chart icon Sabre's year-to-date stock performance. Stock Chart Icon Stock chart icon BlackBerry's year-to-date stock performance. Stock Chart Icon Stock chart icon Shopify's year-to-date stock performance. Stock Chart Icon Stock chart icon Kyndryl's year-to-date stock performance.

Persons: I'm, Stephanie Linnartz, you've, Martin Schroeter

☆ Wells Fargo downgrades this athletic wear stock, cites 3 major headwinds
▼ + stars: | 2023-06-23 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Wells Fargo is taking a step back on Under Armour . The bank downgraded shares of the athletic clothing company to equal weight from overweight Friday. "We expect the NA wholesale channel to remain difficult at least through the end of '23, which will likely continue to be a drag on [revenue] growth," Gaetner said. "Retailers remain cautious with orders, as headwinds (inflationary pressures, lower gov't subsidies) continue to weigh on demand." Gaetner added that the North American wholesale market makes up more than half of Under Armour's revenue and expects a decline of 2.2% to revenue growth in 2024.

Persons: Wells, Will Gaetner, Gaetner, Stephanie Linnartz, Linnartz, Armour, — CNBC's Michael Bloom Organizations: UA, Armour, ahs Locations: American

☆ Under Armour sends potential warning sign about retailers' profits
▼ + stars: | 2023-05-09 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

The company drove higher sales, in part, by offering lower prices. The company's Chief Financial Officer David Bergman chalked up the margin decline to higher promotions as Under Armour marked down merchandise from prior seasons and sold it through off-price retail. The company said it expects margins will still be under pressure as higher promotions outweigh lower freight costs. Simeon Siegel, a retail analyst for BMO Capital Markets, said the pandemic gave retailers a chance to press the reset button. As of the end of the quarter, Under Armour had nearly $1.2 billion in inventory, up 44% year over year.

☆ Under Armour's new partnership with Steph Curry will last beyond the NBA star's retirement
▼ + stars: | 2023-03-30 | by ( Jessica Golden | ) www.cnbc.com time to read: +1 min

NBA superstar Steph Curry and Under Armour are once again betting big on each other. The deal will ensure that Curry, 35, will remain with Under Armour long past his playing career. Curry will take on a new role as president of Under Armour's Curry Brand and will work across categories such as basketball, golf, women, youth and sports style to deliver new products. The nine-time NBA All-Star first signed with Under Armour in 2013 in a deal worth about $4 million per year. Over the course of their partnership, Curry and Under Armour have launched 10 signature shoes together.

☆ Meet 6 trailblazers in the NFL, Coast Guard and more: 'Success isn't being the first,' it's having 'many others follow'
▼ + stars: | 2023-03-08 | by ( Morgan Smith Gili Malinsky Ashton Jackson Jennifer Liu | Morgan Smith | Gili Malinsky | ) www.cnbc.com time to read: +9 min

"There was something about the Coast Guard, the missions, seeing the small boats that just spoke to me," she says. Fagan ended up attending the U.S. Coast Guard Academy and her first tour of duty in 1985 took her to Antarctica. From there, the Coast Guard would offer a new assignment every couple of years. Of all 32 teams in the NFL, less than 10 have a Black or female president. "To me, the definition of success isn't being the first — it's to have many, many others follow behind you."

☆ Retail CEO crisis: With recent shakeups at Kohl's, Adidas, Dollar General, and more, the industry's top job is suddenly the hardest to fill
▼ + stars: | 2023-02-11 | by ( Matthew Kish | Avery Hartmans | ) www.businessinsider.com time to read: +8 min

It's the surest sign yet of a crisis facing the retail industry. Supply chains got snarled, shoppers stopped visiting stores, and stimulus payments spiked demand, each making it difficult to measure how business was doing. Then stimulus payments sent demand for everything from sneakers to home goods spiking while supply chains snarled. And just when supply chains started to sort themselves out, inflation hit, and shoppers started to scale back spending. Retail CEOs need 'peripheral vision'Workers at Starbucks stores and Amazon warehouses across the country have pushed to unionize, with many calling out the pay disparity between front-line workers and top executives.

☆ Under Armour boosts profit forecast as discounts spur demand
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +1 min

Feb 8 (Reuters) - Under Armour Inc (UAA.N) raised its annual profit forecast on Wednesday, sending shares up 8% premarket, after quarterly results got a boost from resilient consumer spending and deep discounts that reeled in holiday shoppers. It expects gross margin for the full year to decline at the higher end of its prior forecast of 375 to 425 basis points. A strong U.S. dollar and higher freight and manufacturing charges pushed down its third-quarter gross margins by 650 basis points to 44.2%. The Baltimore, Maryland-based apparel firm posted third-quarter adjusted profit of 16 cents, beating analysts' average estimate of 9 cents, according to Refinitiv IBES data. It expects adjusted profit of 52 cents to 56 cents per share for fiscal 2023, compared with its previous forecast of 44 cents to 48 cents.

☆ Under Armour raises outlook as earnings and revenue beat expectations
▼ + stars: | 2023-02-08 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +2 min

Under Armour reported holiday quarter earnings Wednesday that beat Wall Street's expectations, but the retailer is contending with a growing inventory glut that heavy promotions and discounting failed to alleviate. Despite the inventory challenges, the athletic apparel company raised its earnings outlook for the fiscal year. It now expects to see per share earnings 52 cents to 56 cents, compared to the previously expected range of 44 cents to 48 cents. Despite heavy promotions and discounting during its crucial holiday quarter, inventory was up slightly from its previous quarter. A 2% decline in apparel, which accounts for the majority of Under Armour's sales, was offset by a 25% jump in footwear revenue.

☆ Retail CEO crisis: why the industry's top job is suddenly the hardest to fill
▼ + stars: | 2023-01-23 | by ( Matthew Kish | Avery Hartmans | ) www.businessinsider.com time to read: +8 min

☆ These were Insider's CMOs to watch in 2022
▼ + stars: | 2022-12-23 | by ( Michael Kaminer | Lucia Moses | ) www.businessinsider.com time to read: 1 min

Massimo Baratto, chief consumer officer, Under ArmourUnder ArmourPart of Barrato's mission in this newly created role has been focusing more on direct-to-consumer channels and less on traditional retail. The company has since ramped up its use of SEO and digital promotions, including influencer relations. Baratto also helped shift the tone of Under Armour's advertising; Tom Brady and Morgan Freeman starred in a high-profile "Future GOATs" campaign encouraging young athletes to be themselves. The company is also unveiling a national program offering grants to young athletes and in-person experiences at Under Armour's Baltimore "campus." Under Armour ended 2023 by hiring ex-Marriott International president Stephanie Linnartz as CEO.

☆ Under Armour Names Stephanie Linnartz Next CEO
▼ + stars: | 2022-12-22 | by ( Denny Jacob | ) www.wsj.com time to read: 1 min

Stephanie Linnartz is set to lead Under Armour as president, chief executive and a member of the board. Under Armour Inc. on Wednesday said Stephanie Linnartz will join the company as its first female president, chief executive and a member of the board, effective Feb. 27. The Baltimore-based sportswear maker said Colin Browne , who has served as interim president and CEO since June, will resume his role as chief operating officer upon Ms. Linnartz’s arrival. Ms. Linnartz currently serves as the president of Marriott International Inc., where she has held multiple C-Suite positions. She joined the company in 1997 as a financial analyst.

☆ Jim Cramer's top 10 things to watch in the market Thursday: Stock drop, Micron, AMC
▼ + stars: | 2022-12-22 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

Piper Sandler raises price target on Dollar General (DG) to $288 per share from $273; makes DG a top pick for 2023. Planet Fitness (PLNT) named a top pick for 2023 at Piper, which boosts price target to $93 per share from $79. Truist raises price target on Vail Resorts (MTN) to $292 per share from $270. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ Stocks making the biggest moves midday: AMC Entertainment, Tesla, Micron, Under Armour and more
▼ + stars: | 2022-12-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Tesla — Shares fell more than 9% during Thursday trading. Analysts expected earnings of 70 cents a share on $7.29 billion in revenue. Under Armour — Shares fell more than 4% Thursday. TuSimple — Shares dropped more than 12% after TuSimple said it would cut 25% of its workforce, which would affect about 350 employees at the self-driving truck startup. Airline stocks — A slew of airline stocks fell Thursday amid news of hundreds of flight cancellations as a massive winter storm hit the U.S. American and United slumped 5.5% and 4%, respectively.

☆ Stocks making the biggest moves premarket: CarMax, Micron, Under Armour and others
▼ + stars: | 2022-12-22 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines before the bell:CarMax (KMX) – The auto retailer's stock slumped 12.7% in the premarket after its quarterly profit and revenue fell well short of estimates. Micron Technology (MU) – Micron shares fell 2.9% in premarket trading after the chip maker reported a wider-than-expected quarterly loss and revenue that fell short of Wall Street forecasts. Tyson fell 1% in premarket action. Global Business Travel Group (GBTG) – The American Express spin-off was rated outperform in new coverage at Evercore ISI, which expects the business travel platform to benefit from its leading position in the industry and from a rebound in business travel recovery. Global Business Travel Group rose 1.6% in premarket trading.

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