Overview
- Curry Brand becomes an independent entity effective immediately, with Stephen Curry free to pursue a new retail partner.
- Under Armour will release the Curry 13 in February as the final Curry Brand shoe produced with the company.
- The company raised its restructuring plan to $255 million, including costs tied to the Curry separation, contract terminations, impairments and severance.
- Under Armour expects basketball revenue of $100 million to $120 million this fiscal year and says the split should not significantly affect overall results.
- The decision lands during a difficult stretch for Under Armour, which has logged eight consecutive quarters of declining sales and a roughly 40% share price drop this year.