Under Armour Is Cutting 280 Jobs Due to Low Sales Performance
Drastic changes for the company.
American company Under Armour is set to be laying off about 280 employees which translates to 2% of its work team. According to Hypebeast, its second quarter report stated that the company “only reached a revenue of $1.088 billion USD (a modest 9% growth) compared to a forecasted $1.077 billion USD.”
In terms of footwear, revenues still digressed. After singing a deal A$AP Rocky, the company seems to be shifting a different direction, so expect more news to drop soon. CEO Kevin Plan released a statement:
”We’ve represented performance and that gives us permission to go into lifestyle, and we feel that there’s a lot of people that are in our space and category right now that don’t exactly have the staying power — the ability to be there.”
Photograph via Hypebeast