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Under Armour in Trouble |
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INTRODUCTION |
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For the third quarter of 2017 ending September 30, 2017, Under Armour sales fell to US$1.4 billion, down 4.5% from the same period in 2016. This marked the first decline in sales ever for this global performance footwear, apparel, and accessories company, since it went public in November 2005.
Earlier, in the first quarter of 2017, Under Armour reported its first-ever operating loss of US$2.3 million. Footwear sales – a key statistic for future growth for the company – increased by only 2% compared with the 64% growth in 2016. Under Armour’s footwear sale had been almost stagnant in the first quarter of 2017. The company’s latest edition of Stephen Curry’s shoes was not selling well, especially in North America, which accounted for 80% of its revenue. In the first quarter of 2017, Under Armour’s footwear sales in international markets increased by 52%, but it declined by 1% in its primary market, North America.
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