UNDER ARMOUR ANNOUNCES LAYOFFS

Under Armour has announced that it is set to layoff 280 employees due to lack luster sales and record low shares. The announced layoffs will affect 2% of the company’s workforce. Under Armour saw Q2 earnings of $1.088 billion USD which even at a modest clip bested expectations of $1.077 billion USD. These results saw investors shedding shares of the company. Footwear also saw revenues down 2% overall in Q2.