Investment firm Wedbush Securities released its firs investment rating of Under Armour, and it's not great news for the sports brand.
Giving Under Armour a 'neutral' rating, analyst Christopher Svezia wrote that the company's more technical clothing offerings are out of step with what the lifestyle products consumers desire and as a result its "ability to return to its former glory is unknown."
Apparel and footwear created with a lifestyle focus currently only makes up less than 5% of Under Armour's total sales, according to Svezia, though the company has been taking steps to offer more options in this category.
"We need to become more fashion," CEO Kevin Plank said during a call with analysts after the company's latest quarterly earnings report. "The consumer wants it all. They want product that looks great, that wears great, that you can wear at night with a pair of jeans, but that also does perform for them."
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