Under Armour founder Kevin Plank, who resumed the CEO role in March, has announced a major restructuring effort in response to the company's declining sales. Plank acknowledged that the company had been doing 'too much stuff' and emphasized the need to streamline operations. As part of the major restructuring plan, Under Armour will lay off employees in an attempt to recapture past sales glories and regain its competitive edge against rivals like Nike.
🇺🇸 Under Armour was a real threat to Nike. Now it’s fighting to stay relevant https://t.co/jlQvAQNTlI
Under Armour is collapsing — And Kevin Plank has to take the blame https://t.co/iw6FCcCgmm by @BrianSozzi
It was once hyped as a worthy rival to Nike. But at present, Under Armour, founded by a 23-year-old former college athlete, is struggling to "just do it." https://t.co/oAkwHnkibd
The floundering fashion line has been a shell of its former self for years, but is this now the end? https://t.co/NsvKdBgn5D
Succession drama is gripping Gucci as sales fail to make the cut. Kering is weighing up its next steps as François-Henri Pinault’s luxury empire crumbles. I spoke to the Telegraph about the latest twist and turns at the luxury empire... https://t.co/7BOu91rFCO
apparel is tough The Executive Who Revived Barbie Has a New Long-Shot Mission: Save Gap $GPS https://t.co/JzSlPBa0ZN
Under Armour to lay off employees as part of restructuring plan https://t.co/vpwTrV6BOb
The company that once reigned over American casual fashion has bungled the fundamentals of retailing for years. Gap's new CEO, Richard Dickson, is the latest in a long line of leaders trying to revive the brand. https://t.co/hfDIYVxIqz https://t.co/hfDIYVxIqz
Bernard Arnault, the world’s richest man, is sizing up his heirs apparent https://t.co/runwPtFKu2 👇
Gap’s CEO is grappling with a fundamental question: Why do his brands exist? https://t.co/mZ2XRuVQzY
How luxury giant LVMH built a recession-proof empire https://t.co/neHCBloRoX
The sports apparel dynamo's sales have come up lame, and its original -- and now newly returned -- CEO is pushing a major restructuring in his quest to recapture past sales glories. https://t.co/QjYamIodPU
On the company’s earnings call, Under Armour founder Kevin Plank, who stepped back into the CEO role in March, said the company was doing “too much stuff.” https://t.co/dlUywHtjlg #retail #apparel #footwear