As CEO Kevin Plank implements his turnaround strategy at Under Armour, the retailer's revenue continues to tumble. In the second quarter, the metric was down 11% year over year to $1.4 billion, with North America revenue falling 13%.
'This playbook of sacrificing low-quality sales in exchange for a stronger brand position and higher prices is one that we have seen play out at other retailers and, by and large, it can be extremely palatable to investors,' GlobalData Managing Director Neil Saunders said.
'We don't have as much shelf space as we once had and it's our job to earn that, season by season,' Plank said.
Part of that journey involves cozying back up to its wholesale partners, with Plank telling analysts the company plans to increase communication with its key retailers and work to earn more shelf space.
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