One of the NBA’s greatest sneaker brands, Under Armour, has dropped in popularity as it struggles to keep increasing sales.
Over the past two years, it’s been a very disappointing overall growth for Under Armour as they post back-to-back single digit increases after they had a very long run of double-digit growth.
Under Armour announces fiscal 2018 earnings this morning. Company has grown an inflation adjusted 415% in the last decade, but finishes second straight year with single digit growth. Here are the last 10 years with growth percentages. pic.twitter.com/0pHooYebgz
— Darren Rovell (@darrenrovell) February 12, 2019
It’s not a doomsday scenario for the company, they are still making more profit every year but unfortunately, it’s a big drop off from what the growth they used to average.
It’s been a wild few months for Under Armour: The company’s fourth-quarter earnings and sales beat estimates, but shares still fell this morning following the report. https://t.co/Cglao3E8xU pic.twitter.com/twDuQU2wMb
— CNBC (@CNBC) February 12, 2019
The worry for Under Armour is that if this trend continues over the next couple of years, the company may fall too far behind from rival companies such as Nike and Adidas. Product Innovation is something they may need to investigate, something that helps them stand out over others.
With some of the greatest athletes in the world such as Steph Curry and Tom Brady connected to the brand, there’s no reason why the company can’t make drastic improvements.
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