There are more than $13.5 trillion in assets that track the S&P 500, either directly indexed, like an ETF, or that use the S&P as a fund benchmark. So far, Under Armour’s not-so-fun efforts to trim costs and refocus the business appear have encouraged Wall Street’s analysts, with 13 rating Under Armour stock the equivalent of “buy,” another 11 giving neutral opinions and one saying “sell.” But positive analyst views don’t guarantee its problems are behind it.įor one, the recent removal from the S&P 500 creates share headwinds as institutional shareholders stop owning Under Armour stock. Now are they going to sell a lot of purple shoes? I don’t know. Steph Curry was wearing purple shoes, the Curry 4 Flotro. “One of the things that surprised me was watching the NBA Finals.
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Pro athletes and clever placements can help Under Armour generate the excitement that competitors, mainly Nike, have been able to do with great effect, suggests Poser. And they need to do more of that to catch up to Nike.”
… The brand is fine, and they brought on The Rock recently, and they have Steph Curry. “I don’t think college teams give you a lot of bang for your buck. “I like the idea of cutting college and perhaps moving more toward pro athletes,” said CFRA equity analyst Zachary Warring in a phone call. Today, after cutting loose programs from coast to coast, and picking high-profile fights with UCLA and California, Under Armour has reduced long-term sponsorship commitments to $288 million, most of which expire by the end of 2024-including a revised long-term deal with the University of Cincinnati. Wall Street hated the deals, at least in retrospect, given evidence brands don’t appear to get much, if any, lift from college athletics partnerships. At the peak in 2017, Under Armour had long-term sponsorship commitments of $1.36 billion. Last decade, UA aggressively signed contracts with dozens of programs, including UCLA for $280 million and Notre Dame for at least $90 million, as it racked up massive sponsorship deals. One of the things the “mechanic” Frisk fixed was Under Armour’s huge expenditures on college sports sponsorship deals.
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