Under Armour Unveils Sweeping Restructuring Plan Amid Sales Decline

CEO Kevin Plank announces layoffs, product reductions, and strategic shifts to reclaim brand strength and profitability.

Under Armour announces a major restructuring plan to address declining sales and profitability.
CEO Kevin Plank outlines initiatives including layoffs, a 25% reduction in product lines, and fewer promotions.
The company expects pre-tax restructuring charges between $70 million and $90 million.
North American sales are projected to decline by 15% to 17% in fiscal 2025.
Plank emphasizes a return to core strengths in menswear and premium product positioning.