Under Armour's defining moves.
The defining strategic moves at Under Armour — each one explained and grounded in the record.
The Cannibalization Choice · Decision Forks
Under Armour's 2017 Stall Was a Reckoning It Had Already Deferred Two Years Earlier
The story is that Under Armour hit a wall in 2017. The SEC found the wall was hit in 2015 — and the company spent six quarters pulling $408 million of future orders backward to hide it, then diluted the brand selling the rest at the outlet.
8 min
The Fall · Decision Forks
Under Armour Didn't Run Out of Customers. It Ran Out of Quarters to Hide Behind.
Under Armour strung together a 26-quarter, 20%-plus growth streak — and the SEC later found part of it was manufactured by pulling future sales into the present. The streak bought time. It also burned the years the brand needed to grow up.
8 min
The Cannibalization Choice · Decision Forks
Under Armour Didn't Lose to Nike. It Sold Its Own Premium Away.
In 2017 Under Armour's North America revenue fell for the first time after years of 20%+ growth. The popular story blames Nike and Adidas. The truer one: UA chased fashion runways and stuffed off-price racks at the same time, and quietly taught customers its premium was a discount waiting to happen.
7 min