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Under Armour Stock Falls As Sales Slow On Stephen Curry's New Shoe

Time:2016-11-23 07:46Shoes websites Click:

Sales Shoe FALLS under Stock

As of Tuesday, the Curry 3 has will have been on sale for a month. This observation from the footwear retailer was enough to spur close to $600 million in stock losses for Under Armour as the company's stock dipped four percent.

Foot Locker CEO Dick Johnson was quoted in the ESPN.com article as saying the Curry 3 models have "started off a bit slower than the previous models". That's an increase of $20 from the Curry 1 and $10 from the Curry 2. The 3 is fairly new into the business.

A spokesperson for Under Armour said the company would not comment on Johnson's characterization of the sales of the Curry 3.

Although the shoe released not too long ago, do you still think there is time for the shoe to turn it around and have the same rate success as the first two, or is it DOA? Courtesy of Under Armour. Additionally, after becoming notoriously known for his leg and ankle injuries, Under Armour designed Curry a shoe with a much higher profile, to protect his ankles - almost 80 percent of people who wear basketball shoes do so for the sake of fashion, and thus prefer lower-profile sneakers.

The Under Armour Curry 3 retails for $140, up from the $120 price of the Curry One, $130 for the Curry Two, and $135 for the Curry 2.5.

According to Footlocker - biggest sneaker chain globally, the recent generation of Steph Curry show, known as 3.0, has not performed well in the market, compared to the earlier ones. He also said that Under Armour has options for how to boost the latest shoe's sales. "This market really thrives on scarcity, so the idea would be to make it more scarce".


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