Under Armour's Under-Performance Costs Jobs
Under Armour’s under-performance has caused them to rethink their business plan. The brand has started a push for lifestyle (helmed by A$AP Rocky) which will hopefully boost sales in an under-utilised sector. But until then, they're not doing so well.
CNBC reports that, amid restructuring and Under Armour's expected revenue growth falling one per cent short, the brand has been forced to cut 280 jobs. It’s not all doom and gloom though – they can take solace in doing not quite as bad as they could be doing. Earnings loss per share was forecast to drop six cents, but only dropped three, and overall revenue came in at $1.088B rather than $1.077B.