Under Armour had more bad earnings news for the third quarter of 2017, as the company reported sales were down in a quarter for the first time since 2005. The 4.5-percent dip is the latest in a string of results this year that forced the company to lay off workers over the summer, and overall left CEO Kevin Plank and the company “incredibly disappointed,” Plank said on a conference call Tuesday. Bloomberg reported the struggles shaved $2.5 billion off Plank’s net worth (though he remains a billionaire).
Courtesy Citybizlist – Under Armour Inc. is on Bank of America/Merrill Lynch’s list of top stocks to buy. The list is intended to represent a collection of their best investment ideas, drawn from the universe of buy-rated U.S. listed stocks (including ADRs).
The Baltimore-based apparel maker had $400 million of sales from women’s products in 2012 and added Leannne Fremar as executive creative director for Women’s Product. Merrill Lynch has a $68 price target, and the consensus is at $64.
Courtesy of Citybizlist – Under Armour, looking to attract more women to its sports apparel brand, has launched a “What’s Beautiful” digital competition.
The “What’s Beautiful” contest, to be hosted on the microsite whatsbeautiful.ua.com and a mobile app, provides a motivational online community to women to help them meet and exceed physical goals.
The three women who rise to the top of the “What’s Beautiful” challenge will receive a one-year sponsorship deal with the company.
“It’s also an opportunity for [Under Armour] to max its ROI on social media, while building a closer relationship with its core customer,” Adrienne Lofton-Shaw, senior director of women’s marketing for Under Armour, tells Marketing Daily. “What we get really frustrated with is advertisers who talk about beauty in terms of how you look, not what you are made of,” she says. “So this site, which allows women to enter any kind of fitness goal, whether it’s competing in the Ironman or running your first mile, is about tenacity, and never quitting.”
Through the microsite, women will be encouraged to declare a goal that challenges their personal fitness and post proof of their progress in the form of videos, photos, and diary entries.
After nine weeks, Under Armour will nominate ten finalists to be featured on the “What’s Beautiful” homepage and mobile app. Ultimately, three winners will be named – two by Under Armour selection and one by public vote.
The “What’s Beautiful” digital experience was co-created and co-produced by the in-house Under Armour creative team, Philadelphia-based full service ad agency, Red Tettemer + Partners, and acclaimed advertising agency CP+B.