Retail

Under Armour reportedly hid slowing demand in 2016 by shifting sales

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An Under Armour store front is seen on November 04, 2019 in Sunrise, Florida.

Joe Raedle | Getty Images

Under Armour CEO Kevin Plank responded Friday to a report that said the company borrowed business from future quarters to hide slowing demand in 2016, saying it called into question the company’s integrity but it remains “unshaken.”

“Given recent events that have entered the realm of public opinion without full context, it is disappointing to have our integrity and reputation called into question,” Plank said in a memo sent to employees, which was obtained by CNBC.

Plank’s comments came after The Wall Street Journal reported Thursday that Under Armour in 2016 leaned on retailers to take…



Source cnbc.com

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