After a severe 2017 remarkable by negligence sales and execution missteps, Under Armour (UAA) looks to have scored an early win in 2018.
“We checked out a new HOVR using line from Under Armour [this weekend], and trust initial reads are strong,” pronounced Jefferies researcher Randy Konik in a note Sunday. “We see this innovative [sneaker] height as a intensity matter to reignite expansion in a boots category.”
Konik, who conceded to shopping a span of Under Armour’s new sneakers after fondness their comfort and feel, believes initial consumer response has been strong. “We remarkable complicated acclimatisation around both shoes, sales associate explanation was positive, and a Phantom was already out of batch in many sizes/colors online, a good pointer given a $130-$140 sheet vs. many of a using line during $70-$90,” Konik added.
The long-time sell researcher recommends shopping Under Armour’s batch amid early signs of improving fundamentals and low Wall Street expectations. Under Armour’s batch has plunged about 33% over a final year, with 9% entrance in a past month alone.
The HOVR Sonic ($100) and a HOVR Phantom ($130) launched this week, braggadocio a exclusive froth devalue that promises a multiple of soothing cushioning and startle absorption. For an additional $10, both styles could be versed with an activity tracker that links with Under Armour’s MapMyRun app. The sneaker line takes aim during Adidas’ (ADDYY) renouned Boost authorization and Nike’s (NKE) new Epic Flyknit React, which facilities special froth record as well.
TheStreet got adult tighten and personal with HOVR during a launch celebration dual weeks ago.
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