Under Armour Loses Another $183 Million in Quarterly Earnings

Just days after the Baltimore-based athletic apparel, accessories and footwear maker, along with two of its top executives — one of them founder Kevin Plank — were served with a Wells Notice from the U.S. Securities and Exchange Commission, recommending legal actions be taken against them for violating certain federal securities laws, the retailer reported a $183 million quarterly loss. That’s on top of the $590 million loss reported just a few months ago.

Despite the loss, the results were better than expected, causing shares of Under Armour to shoot up nearly 20 percent during pre-market hours. But the stock quickly reversed Friday morning after the market, falling nearly 8 percent. Shares are down more than 54 percent year-over-year. Still, there were a few bright spots during the quarter, such as Under Armour’s run category — both in footwear and apparel — and its e-commerce business.

That includes the updated web site, customer relationship management technology, new store concepts and 3-D digital product design and development.

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