Shoes here are actually inexpensive. Until 6 months ago you could find Geox for about 120 pesos a pair! I must have bought 5 pairs plus my husband and daughter and with my parents probably about 12 pairs. But they are no longer sold here
There are many outlets where they sell shoes at good prices, not sure where in the Palermo area..Also you can try a mall where there are many different options. I also like Grimaldi for shoes, not sure what variety they have for sports, but that's just shoes..
You can also try general sports stores and see if they have any sales..try also Dash, always find bargains there but it can take a while to look and try out stuff.
If you want reasonable prices, for locally made clothes, go to Avellanada, in Flores- 1600 stores, a mix of wholesale and retail.
Many will sell to you at wholesale if you buy a certain number of garments (not all the same- you can mix and match).
Its a whole different world than the Nike store in Palermo...
Argentina is not the best place to buy clothes, punto. Unfortunately, for sportswear, the choice is an international brand or something poorly made. I bought "speed" brand swimming stuff here a while ago. It only saved me about 20% compared to speedo and other known brands but the quality was terrible. I've seen a local sports brand here along cabildo that I've never tried. I think its called "Key" or something like that...
The store name is Key Whoss, and I love the sign on their outlet store (Discontinuous). There's a regular branch on Cabildo somewhere between Echeverria and Monroe and an outlet is on Juramento between Cabildo and Vuelta de Obligado.
Punto 1 seems to be popular, there's certainly quite a few, one on Cabildo near Monroe and one on Cabildo at Virrey del Pino, just outside the Jose Hernandez subte stop. Some of their stuff is decent quality but overpriced. If you know someone with a Club Nacion card (like me!) you can get a 20% discount.
Also on Cabildo near Monroe, I forget exactly where, is a small store called Fibrahumana. I bought some very nice quality things there and the owner is very sweet.
If you don't find what you are looking for....
Not to brag, but my dad just arrived today with some Athleta brand yoga pants I ordered on ebay for $25.00 US and they are AWESOME. PM me if you might want to do the same--I'm headed to the US from 11.16-11.29.