Under Armour Puts SEC Battle, Pandemic Woes Behind It In Q1

Closing the book on an investigation that’s been ongoing since 2017, Under Armour on Monday settled its dispute with the SEC over “pull forward” sales, agreeing to pay $9 million in a civil monetary penalty. The retailer specified in a release that the settlement “relates to the company’s disclosures and does not include any allegations from the SEC that sales during these periods did not comply with generally accepted accounting principles. The company neither admitted nor denied the SEC’s charges.” Under Armour announced better than expected first quarter earnings on Tuesday, releasing a “meaningfully updated outlook” that brings the company back in line with its pre-pandemic performance. Read more at Retail Dive.