While reviewing the management of Under Armour I noticed an interesting item: all of them are fairly new. Below is the link to UA's management page.
http://www.uabiz.com/company/managementTeam.cfm
I found this interesting. Does this mean that UA is positioning itself for broad expansion? Possibly. This managament team is full of experience from all with top executive jobs at other large retailers like Lands End. The price tag for this experience can't be small.
UA is definitely making sure it has the right people for the jobs.
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I think you are correct in your assessment. They could also be gearing up to be acquired. What is their ownership structure like?
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