The Golden State Warriors star could take his Curry Brand independent or to another retailer — something Federer and Tiger Woods scored success with after splitting from Nike.
After more than a decade together, Under Armour Inc. and NBA star Stephen Curry on Thursday said they would be parting ways, as the athleisure giant moves ahead with a turnaround effort and a deeper focus on its core products.
CNBC's Alex Sherman joins 'Fast Money' with breaking news on Under Armour.
The athleticwear retailer said its board has approved another $95 million in restructuring actions, bringing its total estimated restructuring and related charges to up to $255 million.
Under Armour swung to a fiscal second-quarter loss as sales of sportswear fell, a trend it warned is likely to continue during the balance of its fiscal year.
Under Armour Inc (NYSE:UA) shares plunged more than 18% as its fiscal first quarter earnings fell short of expectations and weak guidance disappointed. For Q2, the athletic apparel brand expects revenue to decline 6% to 7% while gross margins are expected to decline 340 to 360 basis points, attributed to expected supply chain headwinds from tariffs.
Under Armour's fiscal second quarter outlook fell below Wall Street's expectations, and the company again did not provide full-year outlook.
Under Armour: Positioned For A Turnaround
I downgraded Under Armour to a sell as revenue continues to decline, and key initiatives show little progress, especially in North America. DTC and footwear segments remain weak, with full-price repositioning and portfolio management strategies failing to revive demand. Tariff risks add significant uncertainty, threatening margins and complicating any turnaround amid already soft consumer demand.
Socks and t-shirt company Bombas has appointed longtime retail executive Jason LaRose to be its next CEO as it looks to scale beyond DTC roots.
Sports apparel giant expects a slight first-quarter profit, while Wall Street was expecting a breakeven quarter
Under Armour's turnaround hinges on improved margins, restructuring, and new product lines like the Echo shoe, despite ongoing revenue declines and tariff challenges. Kevin Plank's return as CEO aims to streamline operations, cut costs, and focus on premium products, showing mixed results so far. The NFL partnership and positive reviews for new footwear signal potential market share gains, tough competition and supply chain risks remain.