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BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | March 21, 2014
Under Armour paid CEO Kevin Plank almost $3.2 million last year, more than double his compensation in 2012, the company disclosed Friday. It was a high-flying year for the Baltimore sports apparel company, which saw its stock price rise 80 percent. It announced a 2-for-1 stock split this week. As the company's founder and largest shareholder, Plank was the prime beneficiary. His roughly 20 million shares were worth more than $2 billion as of Feb. 21, Under Armour said in its U.S. Securities and Exchange Commission filing Friday.
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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | May 27, 2014
Under Armour has agreed to a multi-year partnership with Fight For Children, a non-profit working to improve early childhood and K-12 education. The Baltimore-based sports apparel brand said Tuesday it will serve as the presenting sponsor of the group's annual Fight Night fundraising event, now in its 25 t h year. The Washington fund-raiser attracts 2,000 attendees from business, government, entertainment and community service for a night of entertainment and professional boxing.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | January 27, 2011
Under Armour is to announce today that it will buy the Tide Point waterfront office complex in Locust Point to serve as a corporate campus, cementing the international sports apparel company's home in Baltimore. The company now occupies nearly half of the 400,000-square-foot Tide Point complex, but for several years it has been on the hunt for a campus, a feature boasted by rival Nike and other sports companies. Under Armour's search has sent executives across the country to study campuses maintained by firms such as Quicksilver, PacSun, Google and Intuit.
BUSINESS
By Jay Hancock and Jay Hancock,Sun Columnist | September 6, 2006
Under Armour CEO Kevin Plank is scheduled to profile his company this afternoon at the Goldman Sachs retailing conference in New York, and the assembled investors will probably harp about profit margins. Margins - sales minus costs expressed as a percentage of sales - are the obsession of Under Armour analysts and seemingly the Achilles heel in Under Armour's armor. After one margin measure slipped 2 percentage points in the second-quarter report, the Baltimore company's stock went from $40 to $33 in two weeks.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | July 26, 2011
Under Armour officials say that its strong second-quarter earnings report Tuesday is proof that the sports apparel company is giving customers what they want. But the Baltimore company saw a hit to its profit margins and admits the operations side of the business needs some work. "As a team, we are committed to getting our operational capabilities to the same level of execution and leadership as our brand and product, so that we can fully benefit from the demand of our consumer," CEO Kevin Plank told analysts during a conference call Tuesday.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | March 4, 2014
Kevin Plank soared up Forbes' list of the world's top billionaires. The 41-year-old founder and CEO of Baltimore-based Under Armour is now the world's 731 s t richest person, with a net worth of $2.4 billion. That's up from number 1,175 on last year's list, when Plank had a net worth of $1.2 billion. Plank, who owns more than 21 million shares of Under Armour, has steered the sports apparel maker in just the past several months through continued overseas expansion, the company's first acquisition and a 10-year deal to supply the athletic teams at the University of Notre Dame, Forbes noted in its list.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | June 7, 2014
Under Armour, which has wooed consumers with sweat-wicking T-shirts and other innovations, is banking on a new fabric that conforms to the foot like a second skin to help the company break into the crowded athletic shoe market. The Baltimore-based athletic wear maker is promoting its newly developed ClutchFit - a lightweight, stretch material designed to move with the foot without bunching or binding - as one of its latest innovations. And it's betting the technology will revolutionize shoes across multiple sports and pay off in a bigger share of the booming footwear market.
BUSINESS
By Bloomberg News | January 23, 2009
The Chicago Cubs baseball franchise sued Baltimore-based Under Armour Inc. yesterday, contending that the sports apparel maker reneged on a promised $10.8 million, five-year sponsorship agreement after its profits declined. In a complaint filed in U.S. District Court in Chicago, the ballclub said the garment maker agreed to the deal and is still using Cubs players and the team's stadium, Wrigley Field, in advertisements for its products. Under Armour told the Cubs in a Dec. 12 letter that it would not sponsor them for the next season and "would not meet any of its obligations under the agreement," according to the team's complaint, which seeks full payment of the contract price.
NEWS
By Lorraine Mirabella, The Baltimore Sun | April 23, 2012
A computer thumb drive that was lost in the mail with the names, Social Security numbers and salaries of some Under Armour employees was being sent between two offices of PricewaterhouseCoopers, an auditing firm used by the Baltimore-based sports apparel company, an Under Armour official said Monday. "The thumb drive was not mailed from Under Armour to PwC. It was mailed between PwC offices," Under Armour spokeswoman Diane Pelkey said in an email. The breach of payroll data was first reported by Ohio's Dayton Daily News, which last week obtained an internal memo sent by Under Armour to its employees about the incident.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | February 23, 2011
Under Armour announced Wednesday that it signed an endorsement deal with Cam Newton, last year's Heisman Trophy winner and quarterback when the Auburn Tigers became the BCS National Championship team this year. Newton's deal will begin with a national advertising and in-store campaign this year, and he will wear the Baltimore company's latest football gear at this week's NFL Scouting Combine. Financial details of the deal were not disclosed. "Cam Newton is an incredible talent and a proven champion whose skills are unique and exciting," Matt Mirchin, Under Armour's senior vice president of sports marketing, said in a statement.
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