Under Armour Inc. jumped as much as 7.2% in late trading on Monday after Fairfax Financial Holdings disclosed a sizeable stake in the sportswear company.
@underarmourbr
Fairfax now holds almost 42 million Under Armour shares, or 22% of the total, as of Dec. 30, according to a filing. That’s nearly 36 million shares higher than Fairfax’s previously disclosed stake.
Under Armour is looking to rebound from a challenging year that included a split from NBA star Stephen Curry, who was the company’s most high-profile endorser. Baltimore-based Under Armour stock slumped 40% last year amid a steady decline in revenue.
Under Armour didn’t immediately reply to a request for comment. Fairfax representatives couldn’t immediately be reached.
JD Sports is diving deep into AI with a new plan that means shoppers will be able to buy products through AI platforms without exiting an app.
JD Sports
AI is increasingly making itself felt in retail in both behind-the-scenes and customer-facing activities and this is one move that’s as customer-facing as it’s possible to get. It reflects consumers’ increasing use of AI platforms like ChatGPT and Microsoft Copilot, the latter of which will be its first partner.
Jetan Chowk, JD’s chief technology and transformation officer told the Press Association the company sees AI as “the future of how people will shop” and the retailer wants to be at the heart of this.
It’s working with Commercetools and payment firm Stripe on “one-click purchases” through AI platforms with the tech to launch in the US — now its biggest market — in the months ahead.
But JD isn’t the only one carving out an AI sales future. Back in October major rival Frasers Group (it owns Sports Direct, which competes directly with JD in the UK) saying it was to become the first European retailer to deploy Commercetools’ full agentic commerce suite.
As for JD, it’s expecting to expand the tech to other key markets (the UK and Europe) this year.
Chowk said: “We think AI is the future of how people will shop, and we want to stay at the forefront of how they shop. What we are currently seeing is that customers are regularly using AI apps to research and discover the products they want to buy. We can see that already and want to ensure we are moving early to meet customers and their needs in that space.”
Importantly too, JD has a big presence in the youth shopping market and has seen AI usage soaring for shoppers aged 18 to 24.
So now, those shoppers will be able to not only find products using AI but buy them too within the AI platforms.
CEO Regis Schultz hailed the strengthening of its digital proposition for customers, and how how the tech “keeps us moving in line with the fast-changing retail landscape”.
He thinks the innovation will make the company more efficient as well as improving the customer experience.
Alo announced on Saturday the appointment of Benedetta Petruzzo to the role of chief executive of its international operations.
Bernadetta Petruzzo – Courtesy
In her new role, Petruzzo will manage the Los Angeles-based activewear brand’s global operations, focusing on client experience, market strategy and brand identity, as well as its wellness category, according to the company.
A luxury veteran, Petruzzo joins Alo from luxury heavyweight Dior, where she served as managing director. Prior to that, the executive was the CEO of Prada-owned Miu Miu. Earlier in her career, Petruzzo spent five years at Kering Eyewear, operating in various leadership roles, after a five-year stint at consultancy firm, Bain & Co.
Hollywood’s top stars hit the red carpet on Sunday for the Golden Globes, the first major event on the road to the Oscars, and they delivered lots of old-school glamour.
Ariana Grande – AFP
Here is a glance at some of the looks seen at the Beverly Hilton Hotel:
Ever-chic black
Selena Gomez is a newlywed and her happiness shows. The best comedy actress nominee for her work on “Only Murders in the Building” radiated joy as she arrived on the arm of her husband Benny Blanco.
She oozed sophistication in a black Chanel column gown with a frothy white feathered strapless neckline, her black bob swept into soft waves.
Gomez was not alone in striking an understated pose, with lots of stars opting for black or dark, wintry hues.
Teyana Taylor, a winner for her searing turn as a leftist revolutionary in hotly-tipped film “One Battle After Another,” scorched the carpet in a cut-out backless black Schiaparelli gown with a halter neckline — and a cheeky crystal bow on her backside.
Ariana Grande (“Wicked: For Good”), who competed with Taylor for the award for best supporting actress, turned heads in a black textured Vivienne Westwood ballgown with an asymmetrical neckline and a bubble silhouette before trailing to the floor.
Her hair was swept into her signature ponytail, and she kept the jewelry simple with a diamond choker.
Amy Madigan, also in their category for her villainous turn in “Weapons,” went for a tuxedo look with cropped pants and patent leather boots.
Nominee Jenna Ortega embraced the goth chic of her title character in “Wednesday” in a black high-neck Dilara Findikoglu gown with glittering epaulets and cut-offs that revealed a bit of side boob… and part of her hip bone.
Among the male stars in attendance, Colman Domingo was as usual a standout, wearing head-to-toe black Valentino, with silvery appliques scattered from his left shoulder down his lapel to his waist.
Jennifer Lopez is no stranger to strong fashion statements. Her plunging green Versace gown at the Grammys in 2000 is still a reference for winning the red carpet by adopting the “less is more” rule.
On Sunday, Lopez — whose turn in “Kiss of the Spider Woman” was overlooked by Globes voters — wore a figure-hugging sheer gown with bronze patterns snaking over her body, ending in a mermaid fishtail.
Jennifer Lawrence –nominated for best drama actress in a film for “Die My Love” — got the memo as well, rocking a barely-there sheer nude Givenchy gown with only a smattering of strategically placed flowers.
Stars slam deadly ICE shooting
Hollywood never quite has a night out without a bit of politics coming into play.
On Sunday, some of the stars including nominee Mark Ruffalo wore pins with the messages “BE GOOD” — a reference to Renee Good, the Minneapolis woman who was shot and killed by a federal immigration agent.
Comedian WandaSykes wore the same pin on her lapel, while actress Natasha Lyonne, a nominee for her TV show “Poker Face,” attached one to her clutch handbag.
The campaign is endorsed by the American Civil Liberties Union (ACLU), one of the country’s most prominent civil rights organizations.By Frederic J. Brown with Susan Stumme in Washington
Politics8 years ago