|Bid||19.10 x 800|
|Ask||19.11 x 800|
|Day's Range||18.74 - 19.27|
|52 Week Range||15.05 - 24.55|
|Beta (3Y Monthly)||1.09|
|PE Ratio (TTM)||102.03|
|Earnings Date||Apr 25, 2018 - Apr 30, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||24.00|
In a weird accident of timing, both Nike and Under Armour announced imminent succession plans for their longtime CEOs yesterday (Oct. 22). Nike’s Mark Parker became CEO in 2006, capping a decades-long rise at the company that began with designing shoes. Kevin Plank had been CEO of Under Armour since founding the company out of his grandmother’s house in 1996.
Under Armour announced that Chief Operating Officer Patrik Frisk will succeed Kevin Plank as chief executive.
Jim Cramer's got some thoughts on some stocks as investors react to earnings from Caterpillar and new CEOs at Nike and Under Armour.
The same day Under Armour Inc (NYSE: UAA) founder Kevin Plank announced he will step down as CEO, Nike Inc's (NYSE: NKE) chairman announced his plan to step down from the same position. Nike CEO Mark Parker will be replaced in 2020 by ServiceNow Inc (NYSE: NOW) CEO and current Nike board member John Donahoe.
Under Armour CEO Kevin Plank is stepping down, but the founder will remain chairman. Shares of the athletic apparel maker rose.
Don't expect Under Armour to veer off its current path under Frisk, who has worked alongside Plank for two and a half years.
Under Armour (UAA) stock was up 5.0% today after the company announced its CEO succession Founder Kevin Plank will step down as chairman and CEO
Kevin Plank has been Under Armour’s chief executive since founding the company in 1996. Frisk, the company said in a press release, will report to Plank, who will become executive chairman. Frisk will handle the day-to-day tasks of a CEO, while Plank gets back to working more directly on Under Armour’s product and marketing as its new “brand chief.” It’s an unexpected move, but it has precedent, and reflects how a founder’s role can change as their company grows.
(Bloomberg) -- Under Armour Inc. founder Kevin Plank is stepping aside as head of the company he started in his grandmother’s basement, with the hand-picked executive he brought in two years ago promising a “louder brand” for the athletic-apparel maker.Patrik Frisk, Under Armour’s president since 2017, will become chief executive officer on Jan. 1, the company said Tuesday. Plank, 47, will remain head of the board, taking the title of executive chairman.Under Armour shares rose as much as 6.1% in New York trading, the most since May 17. The stock had climbed 14% this year through Monday, trailing the 20% gain of the S&P 500 Index.The CEO change comes at a logical time. Plank led Under Armour through a multiyear restructuring that he’s called one of the most challenging periods for the company. Frisk, an apparel industry veteran, came aboard in June 2017 to retool Under Armour’s distribution strategy and develop its long-term growth plan.With Under Armour ready to switch to offense from defense -- amid lingering doubts about its direction -- Plank made the decision to step aside.“It’s something that we’ve been working on for a while, really since Patrik joined here two and a half years ago,” Plank said in an interview on Bloomberg TV. “What I think this really gives us is this ability for freedom. As Patrik kept ascending in the organization, and moving things underneath of Patrik, it was, ‘Whose hands are on the wheel?’ And I want to make sure that’s something that’s always clear. It’s impossible to be effective if that’s not the case.”Frisk, 56, has been in the apparel and footwear industry for more than three decades, including a three-year stint as CEO of Aldo Group Inc. Prior to that he held a variety of executive positions at VF Corp., manufacturer of popular brands including Timberland and the North Face.As part of the transition, Frisk will keep the title of president and join Under Armour’s board.‘Continuity in Leadership’“As we turn the corner into 2020, what you’ll see from Under Armour is a louder brand,” Frisk told Bloomberg TV. “We believe the transition now really sets us up to be able to have continuity in leadership, consistency in execution and ultimately enables us to win.”Plank started Under Armour in 1995 while serving as a captain of the University of Maryland football team. Frustrated with the performance of his cotton undershirt, Plank set out to make one that was lighter and would stay drier. He has said that first product was the launch of a new category in sports apparel -- performance apparel.Plank has been chairman and CEO since 1996. He also served two stints as company president, from 1996 to 2008, and again from 2010 to 2017. He’s overseen the company’s move to Baltimore -- from a Washington row house owned by his grandmother -- and its expansion into a multibillion-dollar business. Under Armour went public in 2005 and experienced rapid growth, with sales increasing to $5 billion in 2017 from $1.1 billion in 2010.But the company has sputtered in recent years. Increased competition at home led to falling domestic sales -- and little growth over the past 2 1/2 years. In response, the company wrote down inventory, reworked its supply chain and eliminated about 40% of its products to focus on the top-selling lines. The stock, once a highflier, fell a total of 65% in 2016 and 2017.Recovery has been slow. While competitors embraced casual consumers and the rapid growth of “athleisure” apparel, Under Armour remains dedicated to Plank’s original goal of billing itself as a performance brand.“Our vision of making things that people don’t know that they need, and once they have it, can’t imagine living without, needs to go through every product that we make,” Frisk said. “Everything that you buy from Under Armour has to do something. So ultimately, if it does that, and it’s beautiful, we believe that people are going to make choices about how to wear it, whenever and however.”Job CutsLast year, the company cut 3% of its global workforce, or about 400 jobs. It also slowed spending on big-ticket sponsorships, such as the 10-year apparel agreement with Major League Baseball, which the company backed out of before the partnership was set to launch.Analyst Sam Poser of Susquehanna Financial Group said last week his proprietary checks showed the company still losing shelf space at sporting-goods and family-footwear retailers.“The bottom line, despite operational improvements, is that the Under Armour brand image continues to lose its luster, in our view,” Poser said. “The obsessive focus on performance products limits the consumer base, as most sneakers and sports apparel are worn for comfort and style, not for the actual intended use.”To contact the reporter on this story: Eben Novy-Williams in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, John J. Edwards IIIFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Patrick Frisk has been a marksman already at quelling the company's most pressing challenges, but now he must revive Under Armour's most important market.
Nordstrom's new store in New York City is epic. Yahoo Finance speaks with Nordstrom president of stores Jamie Nordstrom about his outlook for the new shopping hot spot.
Under Armour Inc founder Kevin Plank will hand the reins of the sportswear maker to operations head Patrik Frisk, hoping a change in leadership will help battle brutal competition from Nike and Adidas in the United States. Plank has been the company's chief executive for more than two decades, turning it into a popular name in sportswear, but struggling to generate consistent sales growth. "We view his capabilities as an operator favorably, and believe the regime will have continuity from Plank's leadership," Stifel analyst Jim Duffy said.
Kevin Plank will be succeeded by Patrik Frisk as CEO in a move he said reflects how Under Armour is operating today.
Under Armour Inc (NYSE: UAA ) said Tuesday in a press release its founder and CEO Kevin Plank will resign and be replaced with current COO and President Patrik Frisk. What Happened Plank served as CEO ...
Stocks ended lower Tuesday in a choppy session of trading as investors digested a deluge of corporate earnings results and continued to monitor trade and Brexit developments.
Under Armour Inc. founder Kevin Plank will relinquish his CEO title next year. Patrik Frisk, the sportswear maker's president and chief operating officer, will succeed Plank. Frisk, 56, will become the second CEO in Baltimore-based Under Armour's history on Jan. 1 and join the board of directors.
Under Armour Inc. announced Tuesday that Patrik Frisk, the company's chief operating officer, has been named chief executive, effective Jan. 1, 2020, succeeding CEO and founder Kevin Plank. Plank will become executive chairman and brand chief and continue to lead the board, focused on team culture and "product elevation." Frisk joined the company in 2017 after serving as CEO of footwear company The Aldo Group. Plank founded Under Armour in 1996. Under Armour stock rose 1.3% in premarket trading, and is up 13.7% for the year to date. The S&P 500 index is up 20% for the period.
BALTIMORE, Oct. 22, 2019 /PRNewswire/ -- The Board of Directors of Under Armour, Inc. (NYSE: UA, UAA) today announced that President & Chief Operating Officer (COO) Patrik Frisk will become the company's Chief Executive Officer (CEO), effective Jan. 1, 2020. Frisk, 56, will serve as CEO & President, reporting to Kevin Plank and will join Under Armour's Board of Directors.
Nike’s CEO Mark Parker is stepping down in January of next year. A Nike board member and CEO of ServiceNow John Donahoe will replace Parker. Yahoo Finance's Dan Roberts joins Myles Udland and Brian Cheung to discuss.
Under Armour CEO Kevin Plank is relinquishing his role at the company. Plank, who founded the athleisure company in 1996, will be replaced by Under Armour’s COO Patrik Frisk. Yahoo Finance's Myles Udland, Heidi Chung and Dan Roberts discuss on The Final Round.
Oct.22 -- Kevin Plank, Under Armour Inc. founder and outgoing chief executive officer, and Patrick Frisk, president, chief operating officer and incoming chief executive officer, discuss the changing of the guard at the company with Bloomberg's Caroline Hyde on "Bloomberg Markets."