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Under Armour investors wonder about Plank's focus

Published 12/26/2017, 08:15 AM
© Reuters.  Under Armour investors wonder about Plank's focus
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  • The year for Under Armour (NYSE:UAA): Two straight quarters of losses, first-ever quarterly sales decline, the laying off of almost 300 workers, the loss of a number of top executives, a nearly 45% decline in the stock price (while Nike (NYSE:NKE) gained 25%). "2017 sucked," said CEO Kevin Plank at a company town-hall this month.
  • Maybe not so much for Plank though, whose Plank Industries opened a boutique hotel and a whiskey distillery, and secured hundreds of millions in funding for a $5.5B real estate development in downtown Baltimore.
  • Investors are concerned about the CEO's multi-tasking, says Stifel's Jim Duffy. "My job is running Under Armour, period," says Plank, claiming his private investments take up only a handful of hours per week.
  • Article by Sara Germano at the WSJ
  • Now read: An Analysis Of Under Armour


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