Under Armour’s US Growth Is Being Fueled by These Sneakers

Under Armour is back in growth mode. And part of its rebound in the U.S. can be attributed to footwear.

During its Q2 earnings call yesterday, founder, CEO and chairman Kevin Plank listed several sneakers in the product highlights of 2018. But one footwear franchise was mentioned more than others.

“When we do make great product, the consumer comes, and Hovr is a great example,” Plank said.

Hovr, the brand’s latest running shoe line, consists of the low-cut UA Hovr Sonic and the mid UA Hovr Phantom, which hit stores in February. (Under Armour is in the process of extending it to the basketball market.)

Under Armour Hovr Sonic
A men’s colorway of the Under Armour Hovr Sonic.
CREDIT: Under Armour

Later in the call, Under Armour president and COO Patrik Frisk noted that Hovr sneakers were also instrumental in driving the women’s business, which was at one time apparel-dominant.

Aside from the Hovr range, the Curry 5 and the Project Rock 1 were named as other top performers.

Under Armour Curry 5
Under Armour Curry 5
CREDIT: Under Armour

However, key franchises weren’t solely responsible for Under Armour’s wins in sneakers. Frisk said the brand is experiencing “broader success” in footwear, and Plank mentioned some of the less-talked-about lines that performed well, such as Fortis, Slingflex and Shift.

And the success for Under Armour in footwear is expected to continue. David Bergman, CFO, said on the call that footwear is expected to grow at a low-single-digit rate.

Also on the call, Plank mentioned that NBA star Stephen Curry’s next shoe, the Curry 6, will drop before year’s end.

Under Armour announced yesterday its Q2 sales hit $1.17 billion, a gain of 8 percent over last year’s comparable period, with 2 percent growth to $843 million in the U.S.

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