Hasta La Creative!

The problem of being too many things to too many people may be tripping up Under Armour. Though the sportswear brand reported a 9% increase in second-quarter revenue to $1.1 billion on Tuesday, it lost $12.3 million during the quarter and cut its forecast for the rest of the year. The company, which is also laying off around 280 positions as part of a restructuring, according to reports, also said it had closed 56 outlets and stores in the year ending June 30. This was its second quarterly loss.

Chief Executive Kevin Plank, who founded Baltimore-based Under Armour 21 years ago, noted that the company is in the process of pivoting to become more nimble and also appeal to consumers on a wider variety of playing fields, including lifestyle. He noted focus areas including lifestyle, connected shoes and product customization. While Under Armour, the third-largest athletic brand after Nike and Adidas, has made gains in attracting new shoppers to the brand, it’s now having trouble defining its brand identity, according to one analyst.

“While the overall brand remains visible, there is evidence to suggest that it does not have the clarity or a sense of purpose in the way that Lululemon or even Nike does,” wrote Anthony Riva, analyst at GlobalData Retail in a research note. “Our consumer data indicate that many people are increasingly uncertain of what Under Armour stands for, or which parts of the sports market it specializes in.”

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