Under Armour Inc. CEO Kevin Plank told investors in February the sportswear maker planned “to be a quiet company and a loud brand” in 2018.
Plank was looking to move past external factors hanging over the company, chief among them being political backlash over pro-business comments he made about President Donald Trump. He wanted to get Under Armour running smoothly again.
Baltimore’s largest publicly traded company has faced sluggish North American sales, a resulting restructuring plan with hundreds of layoffs, and criticism for how it has managed inventory.
After posting a better-than-expected third quarter last week, Wall Street cheered the results, sending the company’s stock price up 25 percent in a day and more than 50 percent for the year.
A tide seemed to be turning.
But six days later, Under Armour — the company, not the brand — became “loud” again. And for the wrong reasons. The company is the latest major U.S. corporation to be wrapped up in the powerful…Read the full story from the Washington Business Journal.