Agenda-setting intelligence, analysis and advice for the global fashion community.
Under Armour Inc. jumped as much as 7.2 percent in late trading on Monday after Fairfax Financial Holdings disclosed a sizeable stake in the sportswear company.
Fairfax now holds almost 42 million Under Armour shares, or 22 percent of the total, as of Dec. 30, according to a filing. That’s nearly 36 million shares higher than Fairfax’s previously disclosed stake.
Under Armour is looking to rebound from a challenging year that included a split from NBA star Stephen Curry, who was the company’s most high-profile endorser. Baltimore-based Under Armour stock slumped 40 percent last year amid a steady decline in revenue.
Under Armour didn’t immediately reply to a request for comment. Fairfax representatives couldn’t immediately be reached.
ADVERTISEMENT
By Lily Meier
Learn more:
Under Armour Parts Ways With Steph Curry as Restructuring Gathers Pace
The split ends a high-profile partnership between the NBA star and the sportswear company that had lasted more than a decade.
