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SPORTS
By Childs Walker, The Baltimore Sun | April 25, 2014
MESA, Ariz.   - Michael Phelps ended the first meet of his comeback on an odd note Friday, using his butterfly stroke to swim a 50-meter freestyle race that's never been part of his repertoire. He was swimming to tinker with his form, not to win. And the race proved a side note to a week with greater implications for the record-setting Olympian and the sport he has loved since childhood. Phelps' return sent a charge through what would have been a routine meet, and the shock waves will continue to ripple through the swimming world as long as he's around.
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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | April 24, 2014
Under Armour saw profit and sales soar in the first quarter, beating analysts' estimates, but the market punished the athletic wear brand's stock, which fell more than 7 percent on Thursday. The Baltimore-based apparel maker attributed its strong performance in the quarter ended March 31 to demand for its "performance-based" athletic gear, the brand's appeal among youth and the growing success of its forays into outfitting hunting and fishing enthusiasts. "We are off to a great start in 2014 driven by broad-based strength across our apparel, footwear, and international growth drivers," founder and CEO Kevin Plank said in a statement.
BUSINESS
Lorraine Mirabella | April 24, 2014
Under Armourwill open its newest Brand House store -- its largest yet -- today in New York's SoHo district in a building once owned by John Jacob Astor. The Baltimore-based sports apparel maker hopes to attract international tourists and other visitors to the two-level store at 583 Broadway, which is expected to help raise the brand's global profile as well as highlight the fast-growing women's and footwear categories. "It is an enormous strategic play that we believe complements our overall distribution strategy and ultimately will lift all channels of distribution,"  including sales online and through specialty sporting goods stores, said Susie McCabe, Under Armour's vice president of global retail.
BUSINESS
Lorraine Mirabella | April 22, 2014
Under Armour plans the official opening of its New York City Brand House store for later this week. The sports apparel maker launched the Brand House concept more than a year ago with a store in Harbor East. The Baltimore company opened a second location last November in Tysons Corner Center in Virginia. More details about the Soho store, the first Under Armour specialty store in New York City, will be announced Thursday along with the company's earnings. Under Armour founder and CEO Kevin Plank  mentioned the new store last October after the company released its third quarter earnings, saying it would be part of the Brand House platform.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | April 4, 2014
Under Armour founder Kevin Plank was so impressed with Friday's winner of the nationwide entrepreneur competition he runs with the University of Maryland, he offered the graduate student $25,000 in exchange for a stake in his company. Disease Diagnostic Group founder John Lewandowski walked away with $105,000 in total from the Cupid's Cup Business Competition - $75,000 in first place winnings, $5,000 as the audience favorite and the sweetener from Plank. Carrie Handwerker, a spokeswoman for the University of Maryland's Robert H. Smith School of Business, said Plank arranged for the equity stake to be held by his Cupid Foundation.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | March 22, 2014
Under Armour liked the work Karl-Heinz "Charlie" Maurath had done for one of its competitors when the brand tapped him to lead its international growth. That was nearly two years ago, when Maurath left Adidas, where he'd held senior executive roles in Thailand, Sweden and finally Latin America, the fastest-growing market for the brand. As president of Under Armour International, Maurath now heads up the Baltimore-based sports apparel and footwear maker's business in Europe, Asia and the Americas, and helps plan which countries to take on next.
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
Lorraine Mirabella | March 12, 2014
Under Armour is launching sales in Brazil, part of the Baltimore-based sports apparel maker's goal of spreading the brand globally. Under Armour apparel and footwear will be sold in more than 70 locations or e-commerce hubs, the company said. The initiative was announced in Sao Paulo by founder and CEO Kevin Plank, who was joined by Under Armour athletes Ironman World Champion Chris McCormack and Mixed Martial Arts champion Georges St-Pierre.  "Launching the Under Armour brand in Brazil is another critical step towards reaching our international expansion goals and driving our continued growth throughout the world," Plank said in the announcement.
BUSINESS
Lorraine Mirabella | March 10, 2014
Under Armour has lost its apparent bid for an endorsement deal with Johnny Manziel, the former Texas A&M quarterback and Heisman Trophy winner known as "Johnny Football. " Manziel, the possible first overall pick in the NFL draft, has signed a multi-year marketing deal with Under Armour rival Nike, ESPN reported. Though Nike, which confirmed the agreement to ESPN, did not release financial terms, ESPN said the marketing rights will come at the highest price for a rookie in this year's class.
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.
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