People walks past a Under Armour clothing store in Siam Center, Bangkok.
Guillaume Payen | SOPA Images | LightRocket | Getty Images
Under Armour named Stephanie Pugliese as its new North American president Thursday. She will lead the company’s home market, which has been struggling to grow sales and foot traffic.
“We are thrilled to have Stephanie join Under Armour as President of our North American business,” said Under Armour president and COO Patrik Frisk in a prepared statement. “Her demonstrated record of leadership and retail expertise significantly strengthens our ability to further amplify Under Armour as the preeminent athletic performance brand in our home market.”
In Under Armour’s second-quarter results, the company said it expected North American sales to decline slightly in 2019, compared to flat as previously projected. Sales in the region dropped 3.2% that quarter due to slower traffic.
The activewear retailer has also been hard-pressed to compete with companies like Nike, Adidas, and Lululemon, which are taking eating up market share. The company’s footprint in the activewear market in the U.S. shrunk to 5.6% from 6.4% through June 2019 compared with the same period a year earlier, according to The NPD Group.
Pugliese was previously president and CEO of Duluth Trading Company.
Under Armour shares, which are down nearly 9% over the past year, were up less than 1% in premarket trading. The stock has a market value of $8.6 billion.