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Article Date: August 2017
Word Count: 874

Under Armour Has Loss in Q2, Sets $130 Million Restructuring Plan

Finally conceding that its hyper growth focus may not work in the current environment, Under Dog reported a loss of $12,308,000, down from a $52,658,000 loss last year that included a $59.0 million charge for the introduction of the new Class C stock, as revenues improved 9% to $1,088,245,000 from $1,000,783,000 for Q2 ended Jun. 30. It also announced a restructuring plan to cope with the current market disruption that will lay off some 280 employees, half at Baltimore headquarters, and result in cash charges totaling $70 million and non-cash charges of another $60 million, mostly expensed in Q3 of ... Log in to view full article.


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