Under Armour is is considering "exiting some of its smaller sport categories as it works to stem declining sales," according to sources cited by Sara Germano of the WALL STREET JOURNAL. These categories include, but "aren’t limited to, tennis, outdoor gear and fishing." The company sponsors several top tennis players, including Andy Murray and Sloane Stephens, but a source said that those endorsement deals "aren’t expected to be affected by the potential move" (WALL STREET JOURNAL, 10/24). CNBC.com's Lauren Thomas noted UA "recorded its first losses as a public company earlier this year, and shares hit a record low when the retailer reported second-quarter earnings in August." At the time, UA also announced "plans to cut" about 2% of its global workforce. UA "expects full-year revenue to grow" 9-11% lower than its previous forecast of 11-12% growth (CNBC.com, 10/23). In Baltimore, Jeff Barker notes UA has been "coping with increased competition from rivals such as Adidas and lower-priced apparel manufacturers, as well as the loss of Sports Authority -- once a prime retailer -- and changes in the buying habits amid the rise of online shopping." The company is releasing its Q3 earnings on Oct. 31 (Baltimore SUN, 10/24).
