Under Armour: The Amazing, Declining ROIC

Under Armour ( UAA ) is scheduled to report earnings on Jan 31, something that we've taken note of both here at Stocks to Watch Today , and over at Barron's NEXT . But as important as those earnings will be, Cowen's John Kernan and team are more worried about its return on invested capital than whether can beat forecasts. They explain why:
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