UA: Running Trends Bucking Bad Sentiment

Sentiment is so overwhelmingly bearish on Under Armour—including the common view that the Running footwear launch is ‘average at best.’ I won’t walk you through my thesis on UA’s approach to building this business again (check out several posts on the topic over the past few month), but I remain meaningfully more constructive – both short term and long term.

I won’t judge this launch on data from such a short time period, but we now have three weeks, which is a level that is becoming more relevant to me. A few takeaways – 1) Average price point has not budged off of $93. 2) Cross training market share has not suffered. 3) Interesting to note in the second chart that prior launches consistently made higher highs on the 1-year anniversary (counter to the view that UA launches well, but then fizzles).