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Under Armour ( UA ) stock is down nearly 30% so far this year. (In the same time period, Nike is up slightly and Adidas is way up.) Its CFO Chip Molloy left the company. In its last earnings report at the end of April, the company reported its first ever quarterly loss. More importantly, and more ominous for Under Armour: its footwear sales were up 2% in Q1 2017. In Q1 2016, they rose 64%. The scrappy Baltimore sportswear brand is having a very bad year. What’s the problem? The basketball sneaker business has been bad for nearly two years now, but it may be reaching a nadir: basketball sneaker sales are down 26% since the start of 2017. That’s bad for the whole sports footwear industry, so it’s not only hurting Under Armour, but it is especially bad for Under Armour, which overemphasized basketball footwear on the back of Steph Curry, its biggest star endorser. Golden State Warriors star and Under Armour endorser Steph Curry (Getty) Why have basketball sneakers declined?
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Three UK men questioned after easyJet flight diverted to Cologne World News | Sun Jun 11, 2017 | 6:26am EDT Three UK men questioned after easyJet flight diverted to Cologne BERLIN German authorities are questioning three British men detained after their conversations on board an easyJet flight from Slovenia to London prompted the pilot to divert to Cologne, Germany, a local police spokesman said. No explosives were found in their luggage or on the plane and a spokeswoman for the airport said the remaining passengers were scheduled to fly on to London around 1100 GMT. Nine people received medical treatment after all 151 passengers were evacuated from the Airbus 319 aircraft using emergency slides. The pilot diverted the flight from Ljubljana to Cologne on Saturday evening after passengers reported that the men were talking about "terrorist matters", police and state prosecutors said in a joint statement. Bild newspaper quoted a spokesman for the German federal police as saying the pilot decided to land the aircraft in Cologne after passengers told airline personnel they had heard the men using words including "bomb" and "explosive". The men were aged 31, 38 and 48, a spokesman for Cologne police said. Bild newspaper said the men worked for a London company and were returning to London after a business trip. A backpack that belonged to the men was examined and destroyed in a controlled explosion by authorities but no dangerous contents or explosives were found in the bag or on board the aircraft, a police spokesman said. Police and prosecutors had said they were investigating a suspicion that the men were preparing to carry out, "a serious violent crime that could have jeopardized the state". On Sunday, the police spokesman said it was unclear if any charges would be brought against the men. The airport spokeswoman said air traffic had returned to normal after a three-hour interruption on Saturday evening.
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