Dive Brief:

Dive Insight:

Last month Under Armour announced that it’s mulling a restructuring effort that could entail dropping its plans for an experiential New York City flagship — a brick-and-mortar effort that seems all the more unlikely with the city now the center of the COVID-19 pandemic in the U.S.

Frisk had already made his mark on the company’s C-suite earlier this year by naming his own replacement as chief operating officer and creating a new customer experience post. In a statement Monday, he hailed Eskridge’s contributions to the now-struggling sports brand, noting that during his tenure, “we’ve transformed from a small U.S. company into a multi-billion-dollar global athletic performance brand and his impact on our business has been significant.”

The company’s plans are now hobbled by the pandemic phenomenon, which is keeping consumers away from the gym and professional athletes (including those representing the UA brand) out of play and off television. Under Armour is particularly affected by the postponement of the NBA’s basketball season and the cancelation of the March Madness college tournament, according to a March 12 note from Credit Suisse. 

“Training is UA’s largest category by far (~50% of [revenue]), but UA’s brand advertising strategy is heavily levered to key NBA players (like Steph Curry),” Credit Suisse analyst Michael Binetti wrote in emailed comments.