Under Armour’s terrible, rotten, no-good, very-bad year continued Thursday when CEO Kevin Plank admitted what everyone already knew: Nobody wants Curry 3s.
“Our success in basketball hasn’t been without its learning,” Plank said. “As we launched the Curry 3 late last year, our expectations continued to run high. And while the Three played very well on court for Stephen Curry and our athletes, a sluggish signature market and a warm consumer reception led to softer than expected results.”
This is the first time Plank has admitted that the sales of the Curry 3s were slower than expected, but we already knew that, after Foot Locker’s CEO said that the sales “started off a bit slower than the previous models.”
That caused Under Armour’s stock to plummet throughout 2016 and early 2017. Plank was sued for misleading shareholders, and it didn’t help matters that Plank seemed to come out in favor of Donald Trump, calling him “a real asset to this country,” which further hurt Under Armour’s publicity.
The Curry 3’s troubles caused Under Armour to post its first ever quarterly loss.
[ESPN]
