Thesis
Under Armour (UAA) reported another quarter of depressing revenue growth and improved profitability. The company that could once do no wrong in athletic wear is now on the outside looking in. Nike (NKE), Lululemon (LULU), and others have been reporting stellar revenue growth with products people want while Under Armour keeps its finger on the reset button.
In addition to its lackluster sales, the company is also dealing with a federal investigation into past accounting practices. The investigation, which involves both the Securities and Exchange Commission (SEC) and