Under Armour has admitted that sales of the new Stephen Curry shoe have been disappointing. 

"Our success in basketball hasn't been without its learning," CEO Kevin Plank said on the company's earnings call, in which Under Armour reported its first quarterly loss as a public company. "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 has created an inventory imbalance that we are working through. One that, yes, is baked into our full-year outlook which hasn't changed and, most importantly, yielded lessons we're applying ahead with the Curry 4 and beyond."

The less than enthusiastic reception to the Curry 3 has resulted in several retailers discounting it. To get rid of those that haven't sold, Under Armour has discounted the Curry 3 by almost 30 percent to $99.99.

In November, Under Armour lost nearly $600 million of its value as a company after Foot Locker CEO Dick Johnson said the Curry 3 "started off a bit slower than the previous models."