Very brief. Piper Sandler had a survey saying Under Armour is no longer worn by male teens anymore… Personally, I am a huge fan of Under Armour… clothing, shoes, but most of all their sponsorship of Steph Curry. UA recently announced they will be creating a special Curry Brand. Unique Steph Curry shoes, shirts, merchandise etc. I think this is an excellent move and will put UA in a more competitive fight with Nike and their Jordan Brand.
Now obviously, Nike is much more dominant in this space… Jordan Brand almost does as much sales as UA itself. However, from a share price perspective and appreciation of the brand, we think UA will continue to rebound.