According to another number by industry analysts at NPD Group, the sales of Under Armour's footwear actually fell 20% during that same period. These numbers are both accurate. How is that possible? Under Armour's number includessales directly to customers as well as sales to wholesalers, as the FEC requires, while the NPD number measures actual sales to consumers. The discrepancy is explained by the fact that Under Armour sold a whole lot of shoes to retailers, but those retailers couldn't move them. That means inventory piled up, causing problems for retailers and necessitating discounting,

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