Store mannequins that dot Under Armour’s flagship store at its new corporate campus appear to play soccer, dribble basketballs and turn handstands, part of a long-planned retail venture that opens Thursday and represents both milestone and challenge for the Baltimore brand. It represents a new chapter for a brand struggling to regain relevance in a crowded sports apparel market as it navigates sales declines and a turnaround plan. Under Armour’s stock has lost around 20% in the last 12 months, as its share price fell to a 52-week low of $6.
17 from $11.89, prompting pressure from investors that has made headlines and changed analyst targets. Shares of Under Armour have fallen around 80% since 2015, a loss of nearly in $18 billion in market value.
Under Armour stock closed down 27 cents Wednesday at $9.12 each. The Brand House store, the company’s second largest, where employees began moving in last week from Tide Point in nearby Locust Point.
It marks the completion of Under Amour’s piece of the massive Baltimore Peninsula redevelopment after the campus faced years of delays And it is one of the crown jewels in a restructuring plan . Under Armour said it plans to use the 24,000-square-foot Baltimore Peninsula store to test its “Sports House” concept, parts of which would be rolled out eventually at all 1,400 full-price Brand House stores. It is aiming for “an elevated experience for athletes,” with well-curated product assortments, Plank said earlier this month.
