#USA #Restructuring #Baltimore #Under Armour #Curry Brand

Under Armour Enhances Restructuring Strategy and Financial Projections for 2026

On November 13, 2025, Under Armour, Inc. (NYSE: UAA, UA) took significant steps to enhance its fiscal outlook by expanding its previously disclosed restructuring plan for 2025 while adjusting its expectations for adjusted operating income in 2026. The Baltimore-based company aims to invigorate its operations and strategic focus, especially as it prepares to separate the Curry Brand from its core operations.

Expansion of Fiscal 2025 Restructuring Plan

Originally, Under Armour anticipated that restructuring activities would cost up to $160 million in pre-tax charges. In a recent move, the Board of Directors approved an additional $95 million for restructuring actions, aimed at yielding long-term benefits. Notable changes include the dissolution of operational ties with the Curry Brand, significant contract terminations, and further employee severance incentives, reflecting a proactive shift in Under Armour's corporate strategy.

This restructuring plan now projects a total expenditure of up to $255 million. This figure breaks down into roughly $107 million in cash-related charges—including about $34 million earmarked for employee severance—along with up to $148 million in non-cash charges, which will cover costs linked to contract terminations and asset impairments.

As of September 30, 2025, Under Armour has reported $147 million in restructuring-related charges. The expansion intends to lay the groundwork for a more streamlined and efficient company by the end of fiscal year 2026.

Updated Fiscal 2026 Financial Outlook

Following these restructuring steps, Under Armour remains optimistic about its financial trajectory. The company has adjusted its fiscal 2026 operating income expectations, now forecasting an adjusted income ranging between $95 million and $110 million, a slight increase from the prior estimate of $90 million to $105 million.

Despite these optimistic projections, the company anticipates an operating loss on a GAAP basis, estimating losses between $56 million and $71 million. This reflects a significant contrast to earlier expectations of income ranging from $19 million to $34 million. The refinements in financial outlook signal Under Armour's commitment to enhancing operational efficiency while navigating through necessary restructuring phases.

Rationale Behind Adjusted Financial Measures

In communicating these changes, Under Armour emphasizes the importance of its