Under Armour 2008 Annual Report Download - page 17

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not unique to us, and we do not currently own any fabric or process patents. Many of our competitors are large
apparel, footwear and sporting goods companies with strong worldwide brand recognition and significantly
greater resources than us, such as Nike and adidas. We also compete with other manufacturers, including those
specializing in outdoor apparel, and private label offerings of certain retailers, including some of our customers.
In addition, purchasing decisions by retailers and their decisions regarding limited floor space in their stores
mean that we also must compete with others to develop relationships with retailers for their limited attention. We
believe we have been successful in this area because of the good relationships we have developed and as a result
of the strong sales of our products. However, if retailers earn greater margins from our competitors’ products,
they may favor the display and sale of those products.
We believe that we have been able to compete successfully because of our brand image and recognition, the
performance and quality of our products and our selective distribution policies. We also believe that our focused
gearline merchandising story differentiates us from our competition. In the future we expect to compete for
consumer preferences and expect that we may face greater competition on pricing. This may favor larger
competitors with lower costs per unit of product produced that can spread the effect of price discounts across a
larger array of products and across a larger customer base than ours. The purchasing decisions of consumers for
our products often reflect highly subjective preferences that can be influenced by many factors, including
advertising, media, product sponsorships, product improvements and changing styles.
Employees
As of December 31, 2008, we had approximately twenty two hundred employees including approximately
nine hundred in our retail stores and five hundred at our distribution facilities. Most of our employees are located
in the United States and none of our employees are currently covered by a collective bargaining agreement. We
have had no labor-related work stoppages, and we believe our relations with our employees are good.
AVAILABLE INFORMATION
We will make available free of charge on or through our website at www.underarmour.com our annual
reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to these
reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act as soon as reasonably
practicable after we file these materials with the Securities and Exchange Commission. We also post on this
website our key corporate governance documents, including our board committee charters, our corporate
governance guidelines and our ethics policy.
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