When Under Armour (NYSE: UA)(NYSE: UAA) told investors in late July that the cost of its ongoing business restructuring would be higher than initially expected, shares plunged more than 13% over the next few days in response.
Early Thursday, however, the performance apparel and footwear specialist increased the price of that restructuring yet again — only this time, the market rewarded shareholders with a 5% pop. So what gives?
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The third time’s the charm?
More specifically, Under Armour says “following further evaluation” after its latest quarterly report, it has decided to reduce its global workforce by roughly 3%. The move will result in roughly $10 million of cash severance charges, bringing the pre-tax cost of …
Read the full article at: https://www.foxbusiness.com/markets/the-price-tag-for-under-armours-restructuring-just-went-up-again