The sports apparel company reportedly pushed retailers to accept its products early and diverted inventory bound for its own stores to off-price chains like TJX Companies during the last days of a quarter, the WSJ reported.
The practice allowed Under Armour to record the goods as revenue as opposed to wait for them to sell at its retail locations, according to the WSJ. The tactic and others were used to continue a 26-quarter streak of 20% sales growth that ended in late 2016, the report added. to employees Friday addressing the WSJ's report.
"Given recent events that have entered the realm of public opinion without full context, it is disappointing to have our integrity and reputation called into question," Plank wrote in the email, according to a copy obtained byThe news comes less than two weeks after the company announced its accounting practices are under investigation. According to the WSJ, the company's results toward the end of 2016 are being reviewed as part of the probe.
Aipac's puppet politicians and bribery mentality
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Drive-Thru: Alibaba, Under Armour, and bursting balls of slime - Business InsiderThe Drive-Thru: Alibaba celebrates Singles Day, Under Armour battles scandal, and Target workers face off against bursting balls of slime
Source: BusinessInsider - 🏆 729. / 51 Read more »
Under Armour reportedly borrowed business from future quarters in 2016 to hide slowing demandUnder Armour borrowed business from future quarters to hide slowing demand in 2016, the Wall Street Journal reported. Huh Check this out👇👇
Source: CNBC - 🏆 12. / 72 Read more »
Giuliani Faces U.S. Probe on Campaign Finance, Lobbying Breaches(Bloomberg) -- Rudy Giuliani, President Donald Trump’s personal lawyer, is being investigated by federal prosecutors for possible campaign finance violations and a failure to register as a foreign agent as part of an active investigation into his financial dealings, according to three U.S. officials.The Taxes...don’t forget his taxes. Confused disoriented and fillin up his depends🙄 Rudy is going to jail.
Source: YahooNews - 🏆 380. / 59 Read more »
Adtech company IgnitionOne lays off staff while facing an allegation of unpaid bills - Business InsiderAn investment bank alleges in a court filing that IgnitionOne owes Progress Partners more than $590,000 in damages.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Starling has hit the 1 million account milestone - Business Insider - Business InsiderWhile Starling's total number of accounts may trail other big UK neobanks, it could have an edge over competitors due to the sustainability of its growth:
Source: BusinessInsider - 🏆 729. / 51 Read more »