Core Viewpoint - Under Armour, Inc. has expanded its fiscal 2025 restructuring plan and increased its fiscal 2026 adjusted operating income outlook, indicating a strategic shift to enhance operational efficiency and separate the Curry Brand from the company [1][4]. Expansion of Fiscal 2025 Restructuring Plan - The company has approved an additional $95 million in restructuring actions, raising the total estimated restructuring and related charges to up to $255 million [2][3]. - As of September 30, 2025, Under Armour incurred approximately $147 million in restructuring charges, consisting of $82 million in cash and $65 million in non-cash charges [3]. Updated Fiscal 2026 Outlook - Under Armour is raising its fiscal 2026 adjusted operating income outlook to a range of $95 million to $110 million, compared to the previous range of $90 million to $105 million [4]. - The company now expects a GAAP operating loss of $56 million to $71 million, a significant change from the prior expectation of operating income [4]. Non-GAAP Financial Information - The adjusted financial measures exclude the impacts of the fiscal year 2025 restructuring plan and related charges, providing clearer insight into the company's underlying performance [5]. - Management emphasizes that these adjustments are not essential to the company's core operations and should be considered alongside GAAP results [5]. Financial Breakdown of Charges - The restructuring plan includes up to $107 million in cash-related charges and up to $148 million in non-cash charges, with significant portions allocated to employee severance and contract terminations [8][9].