Under Armour’s 1Q Shows It's Still Built for Success; Shares Undervalued
Narrow-moat Under Armour’s first-quarter results showed a similar narrative to its previous few quarters, as weak North American sales were offset by growth in its international and direct-to-consumer, or DTC, segments. Despite the pressures on its home turf, we remain positive on the firm’s long-term sales trajectory, given our belief that Under Armour is poised to continue growing abroad. Further, we think opportunities to expand its DTC reach and its presence in footwear should stem recent wh...Under Armour is engaged in the development, marketing and distribution of apparel, footwear and accessories for men, women and youth. The company provides HEATGEAR?, which is designed to be worn in warm to hot temperatures under equipment or as a single layer; and COLDGEAR?, which is designed to wick moisture from the body while circulating body heat from hot spots to help maintain core body temperature. The company's footwear products include running, basketball, cleated sports, slides, training, and outdoor. The company provides digital fitness subscriptions, along with digital advertising through its MapMyFitness, MyFitnessPal and Endomondo applications.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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