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Defendants, including founder and CEO Kevin A. Plank and former CFO Lawrence P. "Chip" Molloy, "failed to disclose that Under Armour's revenue and profit margins would not be able to withstand the heavy promotions, high inventory levels and discover this ripple effects of numerous department store closures and bankruptcy of The Sports Authority," the lawsuit said. Under Armour said in a statement it is aware รองเท้า แฟชั่น ชาย adidas of the claims and find them without merit. "Under Armour willvigorously defendthe case," the company said in a statement. Under Armour's stock plummeted 26 percent on Jan. 31 after the company reported weaker than expected sales and profits for the last three months of the year. The company blamed a sluggish holiday season, a shifting retail landscape and merchandise miscalculations for October-to-December sales of $1.3 billion, which, while up 12 percent from a year earlier, fell short of the quarterly gains of 20 percent and more it had reported for nearly seven years. The company also cut its sales growth target in half for this year. Under Armour 's long streak of eye-popping gains in sales ended abruptly during the all-important holiday season, the company reported Tuesday, sending its stock down 26 percent. The Baltimore-based athletic apparel brand blamed a sluggish holiday season, a shifting retail landscape and merchandise...
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