Under Armour Braces for First Loss as Scrutiny of CEO Mounts
- Analysts expect athletic brand to post loss of 4 cents a share
- Plank’s Trump comment sparked backlash by consumers, endorsers
Under Armour Inc. clothing at Dick's Sporting Goods Inc. store in Sterling Heights, Michigan, on Aug. 18, 2016.
Photographer: Sean Proctor/BloombergUnder Armour Inc. is poised to report its first quarterly loss since going public in 2005, a setback for a high-flying growth company that’s already had a tumultuous start to the year.
The sports-apparel maker in January cut its growth forecast, sending the stock plummeting. Soon after, Chief Executive Officer Kevin Plank’s favorable comments about President Donald Trump sparked a consumer backlash. Plank, who founded the company, also raised eyebrows this month when a proxy filing showed that businesses he controls received $73 million in payments from Under Armour.