Under Armour Isn't the Only Company Stephen Curry Is Putting on His Back

If two-time NBA MVP and superstar pitchman Stephen Curry carries his Golden State Warriors to a second consecutive NBA championship, Foot Locker (FL) - Get Report could score big in the second quarter.

Under Armour (UA) - Get Report will release the Curry 2.5, which the star has already been wearing during this season's playoffs, just days before the start of the NBA Finals on May 28 on its own website, as well as in Foot Locker stores. Foot Locker will be the exclusive footwear retailer for the Curry 2.5 until July 1, giving it a significant advantage over its mall rival Finish Line (FINL) .

"We expect same-store sales to accelerate as the [second] quarter progresses, driven by new launches including the eagerly awaited launch of the Curry 2.5 on May 28 which is exclusive to Foot Locker," said Canaccord Genuity analyst Camilo Lyon in a new note to clients Monday. 

And Foot Locker is likely already off to a solid start in the second quarter, according to Lyon, even before the new Curry sneaker hits shelves. "The [sneaker] launch calendar has been healthy, with multiple [Nike (NKE) - Get Report ] Jordan retro launches coupled with new styles for Curry 2, Adidas Ultra Boost and Kyrie 2," said Lyon. 

Foot Locker is scheduled to report its first-quarter results on Friday. 

Lyon expects Foot Locker to deliver a solid first-quarter same-store sales gain of 4.5%, and maintain its full-year guidance for a same-store sales increase of low-single digits and double-digit percentage earnings per share growth.

Given the turbulent consumer spending environment that has led to lackluster resultsfrom apparel retailers such as Macy's (M) - Get Report , Nordstrom (JWN) - Get Report and Kohl's (KSS) - Get Report , Foot Locker's potential start to the year on the back of a still strong interest by consumers in new sneakers may look like gold to investors. In turn, that may help revive Foot Locker's once hot stock -- shares have fallen about 11% so far this year compared to a 0.1% increase on the S&P 500.   

Foot Locker's month-long exclusive for the Curry 2.5 is the latest example of the cozy relationship between the two companies.

Foot Locker, which has over 1,000 stores in the U.S. under banners such as Footaction, Champs and its namesake, will open four more "Armoury at Champs Sports" stores this year. The next crop of these stores will swing open their doors in Texas, says Foot Locker.

The first Armoury at Champs Sports store opened last June in Columbia, Md. right in the backyard of Under Armour's Baltimore headquarters. The Armoury features Under Armour's most innovative footwear, apparel, and accessories, as well as exclusive products and occasional athlete appearances.

"We're very bullish on the format, and working closely with Under Armour to make sure that the product engine is robust enough to support those great shop-in-shop spaces," said Foot Locker president and CEO Richard Johnson on a call with analysts Feb. 26.