Observed Signal · Jun 18, 2026 · Office Closure · Source: Retail Dive · Impact: 2/5 · Sentiment: Neutral
Under Armour to close Portland office
Under Armour will close its current Portland, Oregon office and redistribute functions: some roles will move to the company’s Baltimore headquarters, others to New York, and some to a new Portland space. The changes are expected to be completed in 2026. The company said it will continue to invest in footwear design and development in Portland but did not disclose how many employees would be affected or whether layoffs will occur. The move is part of a broader turnaround effort that has included SKU reductions, leadership reshuffles in the Americas, and mixed recent financial results.
Company-level operational restructuring at a major apparel retailer signals ongoing turnaround and could affect retail operations, product development hubs and regional leadership — relevant to retail and brand-side planning but not a major industry-wide AdTech event.
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Key Takeaways & Evidence Grounding
- Under Armour will close its current Portland, Oregon office and relocate functions to Baltimore, New York and a new Portland space.
- The company expects the changes to be completed in 2026.
- Under Armour said it will continue to invest in its footwear design and development operations in Portland.
- The company did not disclose how many employees would be affected or whether layoffs are involved.
- Under Armour recently met its SKU reduction goal; in the latest quarter revenue fell 1% year-over-year and net loss narrowed to $43 million, while North America sales declined 7%.
Connected Companies & Entities
4 Entities mappedRelated Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
Under Armour Cuts Revenue Outlook, Keeps Profit Targets
Under Armour reported a 3% year-on-year revenue decline in Q1 of fiscal 2027 to $1.1 billion and has lowered its full-year revenue outlook to a mid-single-digit decline due to weaker demand, particularly in North America and Asia-Pacific. North America revenue fell 9% to $610 million while international revenue rose 5% to $490 million, with EMEA up 12%. Gross margin improved by 5.9 percentage points to 54.1% (partly due to reimbursement of prior duty costs). Operating income was $47 million (adjusted $52 million) and net income was $1 million (adjusted $21 million). Restructuring charges were $6 million in Q1, with cumulative program costs of $266 million and an expected total of about $305 million; the program is to be largely completed by end-December 2026. The company reaffirmed its operating income and adjusted EPS targets and emphasized cost discipline and a premium strategy.
Under Armour achieves 25% SKU reduction
Under Armour said it has cut 25% of its SKUs over the past two years as part of a disciplined inventory-management effort, CEO Kevin Plank said on a May 12 earnings call. The company plans further reductions to focus on “fewer, better products” and simplify its supply chain. EVP and CFO Reza Taleghani said the retailer ended the fiscal year with $915 million in inventory, down 3% year‑over‑year, and attributed quality improvements to tighter buys and a more focused assortment. The article situates Under Armour’s move in a broader retail trend of SKU rationalization, citing similar actions by Dollar General, Bath & Body Works and Lowe’s.
Under Armour ends Project Rock partnership
Under Armour has ended its decade-long partnership with Dwayne “The Rock” Johnson’s training brand Project Rock, calling the relationship a “natural conclusion.” Project Rock, founded in 2017, will continue to be sold through October as it pursues independent product, storytelling and experience initiatives. The move follows Under Armour’s recent split with Steph Curry and comes amid a broader marketing reset in which the company is rebalancing marketing spend and shifting to new ambassadorships such as François Arnaud and K-pop group BoyNextDoor.
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