The sportswear company debuted the UA ArchiTech Futurist on Thursday for the lofty price of $300. The shoes went on sale at 6:00 p.m., according to Under Armour's website. They will be the next Under Armour line to use a 3D printed sole. Also, the sneakers will not have laces, instead using a compression system combined with a smaller zipper to keep one's foot secure (picture below).
To be sure, Under Armour could use an innovative new product such as the UA ArchiTech Futurist to begin changing the discussion on its future.
The UA ArchiTech Futurist
Under Armour's stock has fallen about 31% this year, as retail headwinds like the closure of The Sports Authority and the subsequent liquidation sales that flooded the market with discounted items, took a toll on the company's bottom line in the fourth quarter. The company broke its own impressive streak of 26 consecutive quarters of at least 20% revenue growth, reporting growth of just 12% in the fourth quarter.
Not helping matters for Under Armour was the backlash from noted brand spokespeople NBA star Stephen Curry and actor Dwayne "The Rock" Johnson about Under Armour founder Kevin Plank's pro-Trump comments.
"Future revenue gains will likely necessitate heavy investments in direct to consumer, footwear, and international; these areas are central to Under Armour's growth story and therefore, cannot be abandoned," cautions Deutsche Bank analyst Paul Trussell. "Moreover, with the core North American apparel business slowing [for Under Armour] and initiatives to re-accelerate growth likely taking time to take hold, we believe these growth drivers have become more important than ever," he added.
Editor's Pick: Originally Published March 22.
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