Under Armour Inc’s (NYSE:UAA) push into the world of footwear has been dealt a fresh blow with the latest edition of its best-selling sneaker late to the course.
The Washington DC-based sportswear manufacturer had hoped that the Curry 4 – endorsed by NBA superstar Steph Curry (pictured) – would help it to bounce back from slowing growth and attack a market dominated by Nike Inc (NYSE:NKE).
The adult version of the US$130 sneakers were supposed to hit stores on Friday, but Foot Locker Inc (NYSE:FL), Dicks Sports Goods Inc (NYSE:DKS) and other major retailers are still only allowing customers to order a pair with a shipping date of November 18.
Susquehanna Financial Group analyst Sam Poser said the stores “are not happy” with the delays, adding that the hotly-anticipated trainers might “become an afterthought” as punters move on to other things – namely the latest Nike shoe.
Poser claims the shoe is late due to “last-minute design changes”, although UA has reportedly denied this.
Under Armour’s Curry brand is the showpiece of its push into sneakers, but sales of the franchise have slowed over the past year and a poor outing from its latest kicks would only add to that.
“Disappointing revenue performance of the Curry 4 would be a major setback for Under Armour’s footwear plans,” Poser said.
In pre-market trade Under Armour shares were down 2.6% to US$15.62.