Market Overview

Under Armour Bolsters Its Footwear Lineup With A New Boutique-Only Shoe

Share:
Under Armour Bolsters Its Footwear Lineup With A New Boutique-Only Shoe
Related UA
20 Stocks Moving In Wednesday's Pre-Market Session
Analyst: Under Armour Offers 'One Of The Strongest Absolute Return Opportunities'

Under Armour Inc (NYSE: UA) has had quite the week. Despite beating on earnings estimates and revenues, the company suffered the worst single-day decline in eight years.

While management tempered future guidance, Under Armour is still growing. It appears to be shifting from a hyper-growth company to more mature growth company.

Under Armour's further penetration into footwear has played a major role in the excitement of the company's future prospects, with footwear sales are expected to approach $1 billion this year. In the third quarter, footwear sales increased 42 percent year-over-year to $279 million.

On Wednesday, Under Armour announced another shoe launch, following up the Curry 3 release with a lifestyle shoe, the Under Armour Primo.

Primo translates to "first," signifying the top quality of the shoe. It combines Under Armour's familiar midsole with premium leather and a waxed canvas upper. The shoe will launch nationwide in early November for $150 at boutiques only.

Despite the excitement surrounding a new release, ESPN's Darren Rovell was less than impressed, telling Benzinga his response to the Primo was "don't love."

rovell_tweet.png

The Primo is likely to be just the first of many new lifestyle shoes to expand Under Armour's footwear line beyond basketball and running.

Image Source: Provided by and used with explicit permission from Under Armour.

Posted-In: Athletic Footwear Curry 3 FootwearEarnings News Guidance Sports General Best of Benzinga

 

Related Articles (UA)

View Comments and Join the Discussion!