On Friday, during a post-earnings call, Plank outlined newer goals for Under Armour where another targeted reduction and full-price selling should continue to shield margins. He said that building on the ** per cent reduction already achieved during the fall and winter **** assortment compared to just * years ago, the company was now targeting a further ** per cent stock keeping unit (SKU) reduction over the next ** months.
“One of the biggest lessons for us has been that athletes don**;t need more choices. They need better ones,” Plank noted as part of Under Armour’s efforts to remove footwear and apparel that has not worked so far. He pointed out that the company needed to be more intentional with the products that it was selling.
Plank said the architecture of “how we show up through good, better and best products, is not always eliminating. In some instances, we will have * or ** or ** products for one particular category. In other instances, we see opportunity in making better and best for things that are really close to us,” he shared.
“By the end of ****, we are forecasting roughly a ** per cent overall drop in SKUs, which is something we are really proud of,” Plank added.
