Under Armour, Inc. (UA) shares took a hit Friday after the athletic apparel company doubled down on its restructuring efforts and announced a significant split with its most high-profile athlete partner.

The Restructuring Gets Bigger

Under Armour approved an additional $95 million in restructuring actions, pushing the total estimated charges under its fiscal 2025 restructuring plan to as much as $255 million. That's not pocket change. The plan covers the usual suspects: employee severance and benefits, contract terminations, asset impairments, and other transformation-related expenses.

Here's how the numbers break down. Up to $107 million of the charges will be cash-related, including approximately $34 million for severance and benefits and $73 million tied to various transformational initiatives. The remaining charges—up to $148 million—will be non-cash hits related to contract terminations, facility and software impairments, and other asset-related costs.

Saying Goodbye to Steph Curry

In a move that marks the end of an era, Under Armour and Steph Curry announced plans to separate the Curry Brand from the company. Curry will become independent of Under Armour, though not immediately. The company will still release the Curry 13—the final Curry Brand x Under Armour shoe—in February 2026, with additional collections available through October 2026.

Under Armour estimates its total global basketball business, including Curry Brand, will generate approximately $100 million to $120 million in revenue for fiscal 2026. The company doesn't expect the separation to significantly affect its consolidated financial results or profitability, which suggests the basketball division wasn't exactly carrying the business.

Market Reaction

At the time of writing, Under Armour shares were trading 2.5% lower at $4.35. Investors appear to be digesting both the increased restructuring costs and the symbolic significance of losing one of the brand's biggest names.