Boots Acquired by Canada’s Weston Family for $8.9 Billion
The Westons agreed on Wednesday to buy the UK's Boots from Sycamore Partners and the Pessina family, pledging to invest in the retailer's stores and online and expand healthcare services.
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Retail
Under Armour Forecasts Revenue Above Estimates
The sportswear company also announced the sale of its MyFitnessPal exercise tracking platform for $345 million.
Retail
Under Armour to Lay Off 600 Employees Globally
The sportswear maker expects to incur $235 million in charges, including up to $135 million for contract termination.
Retail
Under Armour Beats Quarterly Estimates
The sportswear company's net revenue fell about 41 percent to $707.6 million in the second quarter, but beat forecasts of $558.5 million.
Retail
Under Armour Faces Potential Investigation by the US Securities Exchange Commission
The sportswear brand said the notice is in connection to a federal probe about whether it shifted sales from quarter to quarter to meet objectives.
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Retail
Under Armour’s Quarterly Revenue Drops 23%
The sportswear brand reported a net loss of $589.7 million the first quarter ended March 31, compared with a profit of $22.5 million a year earlier.
Retail
Under Armour Forecasts Surprise Fall in 2020 Sales
The sportswear brand said the coronavirus outbreak in China would have a $50 million impact on first-quarter sales.
Financial Markets
Under Armour Faces Federal Probe Over Accounting Practices
The sportswear company confirmed on Sunday that it is assisting a federal investigation into claims it had shifted sales from quarter to quarter dating back to 2017.
Retail
Under Armour Now Makes Spacesuits. Is That Good Business?
The US-based sportswear brand has partnered with Virgin Group on a new collection of spacesuits.
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News & Analysis
Under Armour Shares Fall 10% Following Revenue Forecast Cut
The company said it expects a slight decline in North America revenue for fiscal 2019, compared with a prior forecast of flat revenue.
Retail
Under Armour Raises Profit Forecast After Upbeat First Quarter
Sales in international markets, including Europe and Asia, rose 12 percent and accounted for 27 percent of overall revenue.
Financial Markets
Under Armour Climbs as Citigroup Raises Rating
The sports retailer's stock rose 3.8 percent after Citigroup raised its rating from 'neutral' to 'buy.'
Retail
Under Armour Tops Profit Estimates After Decluttering Spree
Shrinking inventory by cutting underperforming products has been key to the sportswear brand's restructuring efforts.
The News in Brief
Vogue Arabia to Launch Annual Ball
The magazine’s inaugural ball will take place in November, the latest in a growing portfolio of live events hosted by publisher Condé Nast.
Lacoste Fired CEO Ahead of Paris Runway Show, Sources Say
The French tennis and lifestyle brand quietly fired its chief executive, Eric Vallat, shortly before the brand’s latest Paris fashion show, sources told Reuters.
Frasers Group Acquires 8.8% Stake in Under Armour
The move extends British company’s push into sports brands following a recent purchase of Puma stock.
US Luxury Spending Slows, Citi Data Shows
US credit card spending on luxury brands fell for a third consecutive month in September, according to data from Citi.
Frasers Group Steps Up Luxury Push With New Division, Larger Burberry Stake
The British retail group has brought its stakes in Burberry, Hugo Boss and Mulberry together with its luxury retail operations.
Asos Customers Receive ‘Hack’ Notification Threatening Leak
The retailer is investigating after users of its mobile app received a notification claiming hackers had ‘fully compromised’ company data.
Report: L’Oréal Explores Unloading Chemical-Related Liabilities
The French company has engaged restructuring advisers to explore options for rising US legal liabilities linked to its use of talc and other chemical ingredients in some of its cosmetic products, the Wall Street Journal reported on Monday.