Under Armour Inc. is gaining favor with an older crowd of shoppers, according to the most recent athletic survey from B. Riley.
“We would note that Under Armour remained flat in the younger ages of 18-to-34 whereas Adidas, Lululemon and Nike all increased, indicating older consumers are gravitating more towards Under Armour, which is likely representative of the increased mass distribution,” wrote B. Riley in its report.
In shoes, Under Armour lost ground in the basketball category, falling from fourth in 2018 to fifth this year, behind Reebok. It fell to number seven from six in the casual category.
In the running category, Under Armour maintained its place at number six.
Nike Inc. and Adidas held on to their positions at numbers one and two, respectively, across all three of those categories. Reebok is part of the Adidas portfolio.
“We believe this is reflective of the limited innovation we have seen in Under Armour footwear compared to Nike and Adidas,” B. Riley said.
“We believe Nike’s innovation engine is just ramping up as they have already announced an entirely new running platform for 2019, as well as further rollout of the adaptive technology beyond basketball. Comparatively, from Under Armour, we are seeing more limited innovation as the company has announced further iterations of the HOVR technology introduced last year.”