Stephen Curry's latest signature shoe with Under Armour isn't selling as well as the brand anticipated. In an earnings call on Thursday, CEO Kevin Plank touched on the sluggish sales of the Under Armour Curry 3.
"While the 3 plays very well on court for Stephen Curry and our athletes," Plank said, "a sluggish signature market and a warm consumer reception has lead to softer-than-expected results."
Early evidence of the Curry 3's struggles emerged last November, when Foot Locker Chairman and CEO Dick Johnson expressed concern over the shoe's sales.
Plank said that the Curry 3's retail difficulties have created an inventory imbalance for Under Armour. The company plans to correct this by learning from mistakes around the Curry 3 and applying those learnings to the rollout of the coming Curry 4. On the call, Plank discusses changing Under Armour's approach to the number of colorways and scarcity of launches.
The Curry 3 first released in October, 2016, and has since been succeeded by the postseason Curry 3Zer0 model.
The quarter wasn't a positive one for Under Armour, which posted its first-ever loss during its time as a publicly-traded company. Per its report, there was a net loss of $2 million.
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