Surprise Split At Under Armour As Curry Brand Breaks Away

Under Armour, Inc. (NYSE:UA) on Thursday disclosed the expansion of its fiscal 2025 restructuring plan and raised its fiscal 2026 adjusted operating income outlook.

Curry Brand Separation

Under Armour and Stephen Curry are separating the Curry Brand, ending their decade-long partnership. The company plans to focus on UA Basketball, while Curry Brand becomes independent.

The company will release the final Curry 13, the final Curry Brand x Under Armour shoe, in February 2026, with additional colorways and apparel through October.

Also Read: Under Armour Warns Of 2026 Profit Pinch As Tariffs Hit Hard

The company projects the Curry Brand separation not to impact overall financial results or profitability materially.

Expansion of Fiscal 2025 Restructuring Plan

The company originally expected pre-tax restructuring and related charges of up to $160 million related to the fiscal 2025 plan.

After further evaluation, the Board approved an additional $95 million for new restructuring actions, with benefits expected to materialize in future periods.

These actions include Curry Brand separation, additional contract exits, further asset impairments, and added severance and benefits costs.

Notably, the company projects its global basketball business, including the Curry Brand, will generate $100 million-$120 million in revenue in fiscal 2026.

Under Armour’s expanded restructuring plan increases total estimated charges to up to $255 million.

This comprises $107 million in cash-related costs such as severance and transformation initiatives, and $148 million in non-cash charges related to contract terminations, facilities, software, and other asset impairments.

As of September 30, 2025, Under Armour has incurred roughly $147 million in restructuring charges ($82 million in cash and $65 million non-cash), with the plan expected to be largely completed by the end of fiscal 2026.

Outlook

The company increased its fiscal 2026 adjusted operating income outlook, reflecting expected benefits from its expanded restructuring plan and ongoing efficiency improvements.

In particular, the company now sees an operating loss of $56 million-$71 million, versus the prior guidance of operating income of $19 million-$34 million.

Adjusted operating income is projected at $95 million-$110 million, up from the previous range of $90 million-$105 million, with all other outlook components unchanged.

Price Action: UA shares were trading lower by 0.89% to $4.43 premarket at last check Friday.

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