Why Under Armour Is Struggling Despite the Athleisure Boom

Luke Sharrett | Bloomberg | Getty Images

As consumers spend more time at home, ditching work clothes and suits for yoga pants and sweats, you would think that sports apparel brand Under Armour would be thriving.

But the company that urged athletes to "Fight on Together" has fallen on tough times. While the brand's sweat-wicking performance gear is popular among athletes, it might not be resonating with consumers the way it used to.

Analysts say an athleisure boom is being fueled by a desire for comfort and a newfound interest in health and wellness. But consumers are also interested in style and fashion, which is why rivals like Nike, Adidas and Lululemon are doing so well.

So can Under Armour rebuild its momentum before it's too late?

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