Shares of Under Armour (UA - Get Report) climbed 3.1% to $17.78 Thursday after the athletic apparel and accessories manufacturer named veteran apparel industry executive Stephanie Pugliese as president of its struggling North America business.
The Baltimore, Maryland-based company said Pugliese is slated to start on September 16 and will report to Patrik Frisk, president and chief operating officer.
Pugliese comes to Under Armour from Duluth Holdings (DLTH - Get Report) , where she was president and CEO. After joining Duluth in 2008, Pugliese held executive positions in product development, merchandising and marketing before becoming president in 2012, and president and CEO in 2015 when she led the company through its initial public offering. She was also member of the company's board of directors.
In July, Under Armour beat Wall Street's second-quarter earnings expectations, but issued softer 2019 earnings guidance. The company said at the time that North American sales continued to decline, falling 3% to $816 million, and failed to offset a 17% gain in international revenue, which was $339 million.
"We are thrilled to have Stephanie join Under Armour as President of our North American business," Frisk said in a statement. "Her demonstrated record of leadership and retail expertise significantly strengthens our ability to further amplify Under Armour as the preeminent athletic performance brand in our home market."