What is Under Armour?
Under Armour (UA) is an American company offering sports apparel, footwear and accessories for men, women, boys and girls. The firm distributes its product assortment via www.underarmour.com and through over 15,000 retail locations globally. The products include athletic shoes, jackets, T-shirts, shorts, caps, bags and protective gear. Under Armour also makes American football, basketball and soccer strips. The company says that its mission is “to make all athletes better through passion, design and the relentless pursuit of innovation”.
Under Armour employs over 15,000 people around the world. But it fell just short of making the 2017 Fortune 500 list, coming in as the 528thlargest public company in the United States. Under Armour was ranked 5thby Forbes in a league table of the most valuable sports business brands.
Who are the key people at Under Armour?
Kevin A. Plank, who founded Under Armour, is Chief Executive Officer and Chairman of the Board. Another key figure at the company is David Bergman, who has been Chief Financial Officer since February 2017. Kevin Eskridge, who has served as Chief Product Officer since May 2017, oversees the company’s category management model, product, merchandising and design functions.
What is the modern history of Under Armour?
Under Armour was founded in 1996 by Kevin Plank, a former special teams captain of the University of Maryland football team, who developed a unique T-shirt made from microfibres that kept athletes dry and cool. By 2000, Under Armour had become the outfitter of the new XFL football league,and in 2003 Rosewood Capital invested $12 million in the company.Under Armour launched its IPO on the NASDAQ in 2005, raising $153m. Acquisitions in the following years included digital app maker MapMyFitness in 2013 and MyFitnessPal in 2015.
What are the latest developments at Under Armour?
Under Armour became embroiled in controversy in February 2017, when CEO Kevin Plank expressed his support for Donald Trump’s administration. His statements triggered a strong public backlash, with many Under Armour customers boycotting the brand, and athletes speaking out in opposition to Plank's remarks.
In its 2017 full year results, Under Armour reported revenue up 3% to $5.0 billion, driven by continued international strength. But North America revenue was down 5%.The company made a net loss of $48 million in 2017. Excluding a one-time charge related to the U.S. Tax Act, and the impact of the firm’s restructuring plan, adjusted net income was $87 million.
Adjusted diluted earnings per share was $0.19. The Under Armour share price peaked at over $51 in September 2015, but dropped sharply thereafter. The shares fell below $40 in January 2016, under $30 in January 2017, and dipped as low as $11.61 in November 2017. As of 9 April 2018, Under Armour shares stood at $16.75, giving the company a market capitalisation of $6.93 billion. To find out how the shares are doing right now, follow Capital.com. Our UA chart puts all the information at your fingertips.
Where does Under Armour operate?
The company is headquartered in Baltimore, Maryland.Outside the USA, the company markets in the U.K., France and Germany, and has third-party distributors in Australia, Benelux, Italy and New Zealand, as well as a Japanese licensee. Its European HQ is in Amsterdam, and its international HQ in Panama City.
Where is Under Armour traded?
Under Armour’s stock is listed on the New York Stock Exchange (NYSE). Check out Capital.com for the latest UA chart. We’ll keep you up to date and in the picture.