Under Armour will close its Portland, Ore., headquarters later this year as it concentrates its efforts on its headquarters in Baltimore.
After operating a smaller office in the city for four years, a 70,000-square-foot global innovation hub opened in the Nike backyard in 2017 in a former YMCA building. It initially housed around 100 people with a focus on footwear. Today, the facility has a staff of around 60.
A company spokesperson confirmed the news, first reported by the Baltimore Business Journal, but stressed that Under Armour is not withdrawing completely from Portland. Rather, it is just moving out of that space and will relocate some functions to Baltimore and New York while retaining a smaller presence in Portland, he said.
He attributed the move to the opening of Under Armour’s new campus around 18 months ago. He added that it will actually bring more roles and technology, including a maker space and biomechanics lab, to Baltimore.
“Under Armour is making a strategic shift to strengthen key functions in Baltimore and expand our presence in New York by relocating some capabilities from the West Coast,” the company said in a statement Tuesday. “This will help us move faster, collaborate more closely, and better align our teams around serving athletes and building the brand. We will continue to invest in our footwear innovation, design, and development operations in Portland, which remain central to our innovation pipeline and future growth.”
The once high-flying Under Armour has been struggling to regain its footing in the past several years. In May, the company reported an operating loss of $34 million and adjusted operating income of $3 million for the fourth quarter ended March 31. The net loss was $43 million and the adjusted net loss was $11 million, which excludes transformation and restructuring charges. Sales decreased 1 percent to $1.2 billion. Sales in the footwear category were flat at $282 million.
