Under Armour Charts Turnaround with Restructuring, Curry Brand Separation

Under Armour, the Baltimore-based athletic apparel company, announced in November 2025 that its Board of Directors approved an additional $95 million in restructuring actions designed to accelerate the company's operational efficiency and financial performance. The expanded restructuring plan, which complements earlier transformation initiatives, is expected to be substantially complete by the end of fiscal year 2026.

The company simultaneously unveiled plans to separate its Curry Brand, the basketball-focused subsidiary that has been a significant revenue driver. Under Armour estimates global basketball revenue, including the Curry Brand, will reach $100 million to $120 million in fiscal 2026. The separation strategy reflects the company's effort to unlock value from its premium basketball business while allowing the core Under Armour brand to refocus on its broader athletic mission.

Despite the restructuring charges, Under Armour's financial outlook for fiscal 2026 improved considerably. The company raised its adjusted operating income guidance to $95 million to $110 million from a prior range of $90 million to $105 million. However, on a GAAP basis, the company now expects an operating loss of $56 million to $71 million, compared to its previous expectation of operating income of $19 million to $34 million, reflecting the one-time costs associated with the restructuring efforts.

As of September 30, 2025, Under Armour had incurred approximately $147 million in restructuring and related charges, consisting of $82 million in cash expenses and $65 million in non-cash charges. The investment underscores the company's commitment to emerging from a challenging retail environment with a leaner, more focused operational structure. CEO Kevin Plank previously noted the company was encouraged by early progress in efforts to reconstitute a premium positioning for the Under Armour brand.