"We enjoyed hyper-growth for several years and I want to be clear we still believe we're a growth company," said billionaire founder and CEO Kevin Plank. A board-approved restructuring plan announced Tuesday will come with about $110 million to $130 million in related charges this year. Anthony Riva, an analyst with GlobalData Retail, said that the desire for growth at Under Armour may have undercut the brand. For the quarter ended June 30, the sports clothing and accessories company lost $12.3 million, or 3 cents per share. About 280 of the company's 15,000 jobs will be cut as it seeks to focus the brand, Under Armour said.

Source: ABC News August 01, 2017 13:14 UTC