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A lot has changed at
Under Armour (
UA) in the last few years. In that short time, UA has gone from making niche apparel for hardcore athletes to mainstream gear that can be found in more than 100 company-owned stores across the country and thousands of other brick-and-mortar retailers. But UA's performance-focused roots continue to drive the firm's ability to collect top dollar.
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Sports apparel is a big market, but it's a saturated one, so few up-and-comers have successfully challenged the foothold from brands like
NKE). But Under Armour has. The firm's extension in to new categories like footwear about five years ago should continue to drive top-line growth and premium dollars from consumers who see Under Armour as a performance brand.
As Under Armour battled the big name sportswear companies here at home, the firm really hasn't paid a whole lot of attention abroad. In total, overseas sales only make up under 10% of the firm's total revenues; but that lack of international exposure provides ample growth opportunities once UA starts to exhaust its top-line expansion stateside. Shares of UA are far from cheap right now, but the value of the brand and the potential for bigger markets offset the rich price tag.