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Author: Gordogato Big red star, 1000 posts Old School Fool Ticker Guide Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 332  
Subject: Annual Meeting Date: 5/14/2012 1:25 PM
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The Baltimore Sun sent a reporter to Under Armour's annual meeting at their South Baltimore headquarters two weeks ago. It sounds like the highlight was, literally, the Highlights, a new line of football cleats UA introduced this year. Oh, and international expansion and direct-to-consumer sales too; that's also important. But look at the shiny, shiny shoes!

"Under Armour is not the cheapest product in the store, but we are the best," Plank told a packed crowd of shareholders gathered in the Cheer building, a converted warehouse on the company's Locust Point campus. "We identify the issues and needs of athletes and fix those issues." [...]

The company also is focusing on direct-to-consumer categories — online sales and outlet and specialty stores, which are expected to represent nearly a third of Under Armour's distribution channels by 2013 — and in international markets, with new store openings planned this year in China, Plank said.

The company said last month it expected revenue this year of $1.78 billion to $1.8 billion, a 21 percent to 22 percent increase over last year.

Under Armour reported a first-quarter profit of $14.6 million, or 28 cents per share, compared with $12 million, or 23 cents per share, in the same period a year ago. [...]

The company's forays into more than 60 countries, including China, Japan, the United Kingdom, Germany and France, have proved "our brand translates, and we prove that every day," Plank said.
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