Item 2.05. Costs Associated With Exit or Disposal Activities.



On February 11, 2020, Under Armour, Inc. (the "Company") announced it was
assessing a potential 2020 restructuring plan designed to rebalance the
Company's cost base to further improve profitability and cash flow generation,
and on March 31, 2020, its Board of Directors approved this restructuring plan.
This restructuring plan was developed prior to assessing the potential impacts
of the COVID-19 pandemic on the Company's business and the Company continues to
evaluate what actions may be necessary related to the pandemic.

In connection with the restructuring plan, the Company expects to incur total
estimated pre-tax restructuring and related charges in the range of $475 million
to $525 million during 2020 primarily consisting of up to approximately:

•$175 million of cash restructuring charges, comprised of up to: $55 million in
facility and lease termination costs, $25 million in employee severance and
benefit costs, and $95 million in contract termination and other restructuring
costs; and

•$350 million of non-cash charges comprised of an impairment of $290 million related to the Company's New York City flagship store and $60 million of intangibles and other asset related impairments.



The Company anticipates approximately $300 million of restructuring and related
charges to be incurred as of March 31, 2020, including the impairment charges
related to its New York flagship store. The Company currently anticipates that
the remaining restructuring and related charges will occur by the end of 2020.

This disclosure contains forward-looking statements within the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995. All
statements other than those that are purely historical are forward-looking
statements, and include statements regarding anticipated charges and
restructuring costs and the timing of these measures. These forward-looking
statements are subject to risks, uncertainties, assumptions and changes in
circumstances that may cause the estimated future impact of these restructuring
charges and costs to differ materially from the forward-looking statements.
These risks include the Company's ability to successfully execute its
restructuring plan, higher than anticipated costs in implementing the
restructuring plan, management distraction from ongoing business activities,
damage to the Company's reputation and brand image and workforce attrition
beyond planned restructuring related reductions. Additional information
regarding other factors that could cause the Company's results to differ can be
found in the Company's press release attached hereto as Exhibit 99.1, the
Company's Annual Report on Form 10-K for the fiscal year ended December 31,
2019, and the Company's subsequent filings with the U.S. Securities and Exchange
Commission. The forward-looking statements contained in this disclosure reflect
the Company's views and assumptions only as of the date of this Current Report
on Form 8-K. The Company undertakes no obligation to update any forward-looking
statement to reflect events or circumstances after the date on which this
disclosure is made or to reflect the occurrence of unanticipated events.

Item 7.01. Regulation FD Disclosure



In addition to the 2020 restructuring plan disclosed above, the Company also
announced actions it is taking to address the financial impact of the COVID-19
pandemic, including the continuation of store closures and certain impacts for
its U.S. retail and distribution teammates. The Company further announced that
it is withdrawing its first quarter and full-year 2020 outlook provided on
February 11, 2020.

A copy of Under Armour's press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.




Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.                                                 Exhibit
  99.1                  Under Armour, Inc. press release dated April 3, 2020.
                        XBRL Instance Document - The instance document does not appear in the
101                     Interactive Data File because its XBRL tags are

embedded within the Inline XBRL


                        document
104                     Cover Page Interactive Data File (embedded within the Inline XBRL document)

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses