BALTIMORE - Sportswear brand Under Armour has followed rivals like Nike and Adidas in agreeing to pay its suppliers in full and on time for all orders that were in production when the coronavirus pandemic hit.
Many brands have been criticised for cancelling or postponing orders - including those already completed or in production - from suppliers, or demanding discounts to accept them.
Under Armour’s move comes amidst a cost-cutting excercise by the company, after its first-quarter sales plummeted by 23 per cent, which has seen it negotiating contracts to defer payment to some of the athletes which promote the brand.
