Wall Street isn't pleased that Kevin Plank is returning as Under Armour's CEO, shares plunge 12%
Publishing timestamp: 2024-03-14 15:26:25
Summary
Under Armour's shares plunged 12% after CEO Stephanie Linnartz announced her departure, with founder Kevin Plank returning as CEO. Analysts downgraded the company and cited ongoing challenges in the retail industry. Linnartz's departure reflects the brand's struggle to find a successful path to rebuilding its business amidst declining sales and confusion among consumers and wholesale partners.
Sentiment: NEGATIVE
Keywords: marriott international inc, business news, breaking news: business, under armour inc, retail industry, business,