We believe many of these discounts were supported by NKE as it continues to battle with UA for market share.

FORBES: Footwear's Holiday Winners Are LULU And SHOO

We highlight the positive and negative drivers for UA in our evaluation of the company.

FORBES: Breaking Down Under Armour's $53 Fair Value

But this is a step for UA, and will help its fledgling footwear division, which comprises 16% of its sales.

FORBES: Under Armour Strikes Deal with Major League Baseball