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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.
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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 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.
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 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.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | September 15, 2011
Under Armour is hoping to double the size of its Baltimore headquarters to accommodate additional employees, a retail store and a company museum. The sports apparel company wants to build an additional 400,000 square feet at Tide Point, an office complex in the Locust Point neighborhood that the firm, which had rented there for years, bought earlier this year. The company envisions a 20,000-square-foot store opening in 2013, with offices and the museum to follow. Underground and surface parking are also planned.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | November 25, 2013
Under Armour will become the National Lacrosse League's exclusive supplier of apparel, footwear and equipment under a deal announced Monday. The Baltimore-based athletic apparel maker will start outfitting lacrosse players when the 2014 season starts Dec. 18 and will supply the league through the 2016 season, the league said. Athletes will wear UA Micro G Gridiron training shoes and be among the first to compete with Under Armour lacrosse gloves and lacrosse heads. The professional indoor lacrosse league includes nine franchises in the United States and Canada.
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 | February 14, 2011
Under Armour will supply Major League Baseball with footwear beginning this season, the Baltimore sports apparel company announced Monday. Under the deal, Under Armour becomes the official footwear supplier for the league. The company will also be able to use the league logo to market its products in stores and advertising campaigns. Financial details of the agreement were not disclosed. Under Armour already has endorsement deals with several professional baseball players including World Series Champion and 2010 National League Rookie of the Year Buster Posey, Jonathon Papelbon, Ryan Zimmerman, Matt Wieters, Jose Reyes, and Nick Markakis.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | January 2, 2014
Under Armour took a step toward gaining greater global recognition for its brand Thursday, announcing a sponsorship of South American soccer club Colo-Colo, part of Chile's Primera Division. Baltimore-based Under Armour said the partnership is the first in which it will supply uniforms to a "top-tier" South American soccer club, winner of 29 national titles. The sports apparel maker will design and make uniforms and training apparel for the clubs teams, as well as products for fans, under the five-year-agreement.
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