Shares of Under Armour Inc. fell 4.3 percent Monday as investors were apparently rattled over a report that the company’s cofounder Kip Fulks was taking a further step back at the company and the activewear giant is considering exiting some smaller-volume businesses, such as the tennis and outdoor categories.The company’s stock closed down 68 cents to $15.23.An Under Armour spokeswoman said the company is in a quiet period and had no comment on the report from the Wall Street Journal. The company will report its latest quarterly results on Oct. 31.Fulks, a college classmate of chief executive officer Kevin Plank, has slowly become less and less active in the day-to-day operations of the Baltimore-based company. Since May, he has been a strategic adviser working on improving the brand’s efficiency, but since Under Armour was founded in 1996, he has also served as chief operating officer, chief marketing officer, president of footwear and innovation, and president of product. He has also held roles in sourcing and quality assurance.Sources said Fulks is on a sabbatical, a benefit offered to all employees with over 10 years of service. When and if he will return is unknown at this point.After years of growth, Under Armour in April posted its first-ever loss of $2.3 million in the first quarter, on revenues of $1.12 billion, down from a profit of $19.2 million on sales of $1.05 billion, a year earlier.In July, the company brought former VF Corp. executive Patrik Frisk on board as president and chief operating officer and also rejiggered its executive ranks as a way to “better leverage its digital business, support its move toward category management, and drive greater operational efficiency across the organization.”Since then, Under Armour has opened a design center in Portland, Ore., revealed plans to collaborate with A$AP Rocky on a collection, launched the UA Unstoppable Collection, a fashion-skewed sports-inspired line, and is jumping into the subscription box game.But the popularity of athletic-inspired product may be coming to an end after several years of growth, hurting the growth of companies such as Under Armour, Nike and Lululemon.In August, while reporting net losses of $12.3 million for the second quarter, Under Armour revealed plans to restructure. The move will cost the company $110 million to $130 million in pretax restructuring charges this year, including $15 million for employee severance and $30 million to terminate contracts.
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)
Breaking News: @hedislimane joins @celine as its new artistic, creative and image director. One of fashion’s preeminent image-makers and trendsetters, Slimane is to join the LVMH brand on Feb. 1 and unveil his first fashion proposition for men and women next September during Paris Fashion Week. It marks a major homecoming for Slimane, who cemented his reputation – and influenced men’s tailoring for more than a decade – as the designer of Dior Homme between 2000 and 2007. He went on to reinvent and ignite the house of Yves Saint Laurent, which he rechristened Saint Laurent, between 2012 and 2016 – all the while maintaining a close relationship with the Arnault family, which controls LVMH and Dior. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
“Personally I believe the Eighties have been the richest and more vivacious period for international fashion,” Giorgio Armani said when asked what his favorite decade of fashion is. It was a moment of disruption and experimentation and only thinking back to the first years of that decade is always an emotion for me, for what they have meant to me and my work.” The influence is clear in @giorgioarmani spring 2018 collection, pictured here, which was full of bright colors and unexpected prints. Read more about which decades designers loved most on WWD.com #wwdfashion #wwddecades (📷: @aitorrosasphoto)
For Lady Gaga’s only Italian show on her “Joanne World Tour,” the singer wore a range of @versace_official outfits. The standout piece: this custom-made bodysuit inspired by the brand’s spring 2018 collection. #wwdfashion (RG: @ladygaga)
@_camillaruth_ is expanding on the wellness-craze concept with @westbourne – a new NYC restaurant that’s both a healthy-minded café as well as a business that gives back to the community. Marcus works with the Robin Hood foundation to give back to The Door, a non-profit providing youth development services, and also hires employees through The Door. Read our full interview with Marcus on giving back through food on WWD.com. #wwdeye (📷: @lexieblacklock)