Facebook/Under Armour
- At least five major Under Armour executives have left the company since October.
- The most recent departure is Under Armour’s head of footwear.
- Under Armour is seriously struggling.
Under Armour executives seem to be fleeing the company.
On Tuesday, the Wall Street Journal reported that Peter Ruppe, the senior vice president of footwear for Under Armour for the past two years, is leaving the sportswear company.
Other executives who have left Under Armour since October include the company’s co-founder, chief marketing officer, the head of its women’s and youth’s business, and the president of sport fashion.
Under Armour shoes ranked near the bottom in terms of favorability in a Wells Fargo survey of young male consumers earlier this year. In a note to investors, the bank’s analysts said that only 27% of survey participants ranked Under Armour favorably.
The company’s shoe sales have basically flatlined this year.
Under Armour slashed its sales and earnings outlook for the rest of the year in October, when the company reported that revenue fell 5% in the third quarter, to $ 1.4 billion.
“The days of glory, when it would post double-digit uplifts in sales, are over,” Neil Saunders, the managing director of the research firm GlobalData Retail, said at the time.
