Is the Wuhan Virus Crushing Under Armour?
The Carona virus, also known as the Wuhan virus has been raging across the world leaving a trail of struggling businesses in its wake.
Under Armour's name was recently added to the list of companies taking heavy losses due to the global pandemic. The prolific sportswear company borrowed 700 million dollars this week.
Most American businesses have closed to prevent employee and customer exposure. This decreases the amount of discretionary income available among it's consumer base.
Sportswear is generally considered non-essential. In a crisis, non-essential goods are purchased with less frequency.Under Armour has discovered that first hand. Will the sportswear giant survive it's recent financial woes? Leave your thoughts in the comment section below.