[Photo: courtesy of Under Armour]
Shares plummeted more than 25% today after Under Armour reported disappointing holiday sales. Chip Molloy, the company’s CFO, is stepping down next month due to personal reasons.
CEO Kevin Plank said that part of the problem was that the bankruptcies of brick-and-mortar sports stores like Sports Authority and City Sports meant that there was less inventory for Under Armour to sell.
Read more in Fortune.