[ad_1]
People pass by an Under Armor clothing store in Siam Center, Bangkok.
Guillaume Payen | SOPA Images | LightRocket | Getty Images
Stephanie Pugliese has been named North America's new president by Under Armor. It is responsible for reversing the division's declining sales and pedestrian trend.
"We are delighted that Stephanie is joining Under Armor as the president of our North American company," said Under Armor President and Chief Operating Officer Patrik Frisk in a statement. "His demonstrated track record of leadership and retail expertise significantly enhances our ability to amplify Under Armor as a preeminent sports performance brand in our domestic market."
In the second quarter results of Under Armor, the company said it expects a slight decline in sales in North America in 2019, down from the previously stable level. Sales in the region fell 3.2% this quarter due to a slowdown in traffic.
The sportswear retailer is struggling to compete with companies such as Nike, Adidas and Lululemon, which are gaining market share. In the United States, the company's footprint in the sportswear market was reduced from 5.4% to 6.6% in June compared with the same period last year, according to The NPD Group.
Mr. Pugliese was formerly President and Chief Executive Officer of Duluth Trading Company.
Under Armor shares, down almost 9% from last year, rose more than 2% on Thursday morning, giving the company a market value of $ 8.7 billion.
[ad_2]
Source link