American sportswear company Under Armour has widened the scope of its fiscal 2025 (FY25) restructuring plan and increased its fiscal 2026 (FY26) adjusted operating income forecast to between $95 million and $110 million, reflecting gains expected from its expanded transformation strategy.

The company previously projected up to $160 million in pre-tax restructuring and related charges. After a further internal review, Under Armour’s board has approved an additional $95 million in actions, taking the total estimated charges to as much as $255 million. The new measures include the separation of the Curry Brand, further contract terminations, incremental asset impairments, and additional employee severance and benefits costs. Most of the financial benefits of these steps are expected to be realised in future periods.

Under Armour has expanded its FY25 restructuring plan, raising total expected charges to up to $255 million and increasing its FY26 adjusted operating income outlook to $95–110 million.
The measures include separating the Curry Brand and asset impairments.
The company had already incurred $147 million by September 2025 and now expects a FY26 GAAP operating loss of $56–71 million.

Under Armour estimated that its total global basketball business, including the Curry Brand, will generate between $100 million and $120 million in revenue in fiscal 2026. The company does not expect the separation of the Curry Brand to materially affect its consolidated financial performance or profitability, Under Armour said in a press release.

The expanded plan comprises up to $107 million in cash-related charges—about $34 million tied to employee severance and benefits, and $73 million linked to various transformational initiatives. Non-cash charges may reach up to $148 million, including $7 million in employee-related costs and $141 million attributed to contract terminations, facilities, software, and other asset impairments.

As of September 30, 2025, Under Armour had incurred approximately $147 million in restructuring-related charges, including $82 million in cash costs and $65 million in non-cash charges. The restructuring programme is expected to be substantially completed by the end of fiscal 2026.

Alongside the restructuring expansion, the company has revised its fiscal 2026 guidance. It now anticipates a GAAP operating loss of between $56 million and $71 million, compared with the earlier expectation of operating income between $19 million and $34 million. Adjusted operating income is now forecast at $95 million to $110 million, up from the previous range of $90 million to $105 million. All other outlook components remain unchanged.

According to the company’s reconciliation, the adjusted outlook reflects the addition of $166 million in restructuring-related charges under the fiscal 2025 plan, aligning with its updated operational strategy for the year ending March 31, 2026, added the release.

Fibre2Fashion News Desk (SG)

Stockholm-based Our Legacy has opened the doors to a new Work Shop with a debut for it in London’s Soho, at 6 Smiths’ Court.

It’s just down the road from the Our Legacy main brand’s existing Silver Place address and is something of a big deal given that the only other standalone Work Shop store apart from London is the Stockholm flagship.

That said, the Our Legacy brand also has other stores globally, as well as concessions, and only last month boosted its presence in France with the opening of two permanent concessions at Printemps Haussmann, one for women and the other for men. 

The new London Work Shop celebrates over 10 years for the brand in the city and comes as the Work Shop concept approaches its own 10-year anniversary in 2026.

The company said the concept has “evolved into a cult phenomenon, collaborating with brands such as Stüssy, Converse, and Emporio Armani, and fellow Scandinavians like Artek, Magniberg and Rörstrand”.

And it added that as a “creative engine within Our Legacy, the Work Shop label functions at its core as a circular retail platform, a collaborative vessel, and an atelier”. 

Building on those principles, the new London store “merges history and craftsmanship with an experimental practice – creating an ever-evolving space where in-house artisans upcycle, recycle, and handcraft pieces in-store, developing deadstock fabrics and samples into unique, one-of-a-kind pieces”. 

The space also carries archival and reference garments alongside its own Work Shop drops.

The Smiths’ Court building itself is a historic late 18th century one and has been transformed from what was once a horse stable and later a hub for blacksmiths, cabinet makers, and leatherworkers. The interior was designed in collaboration with architects Arrhov Frick and developed by Profan. It preserves the building’s character with arched ceilings, exposed beams, and cast-iron pillars, “while introducing a contemporary feel through the stainless steel furniture, movable fixtures, and natural materials”.

A long-time collaborator of the brand, Akane Moriyama, has also added the silk curtains that “bring a contrasting softness to the industrial setting”.