How much catching up does Under Armour have to do to get on Nike's level? Here's a tidbit from the latter's latest earnings report that illustrates the distance between the two: Nike spentĀ $3.3 billion on marketing in the last year, while Under Armour didĀ $3.96 billion in sales in the last year.

The disparity was pointed out on Twitter by sports industry analyst Matt Powell.

Nike is spending more money than ever on marketing, which it calls "demand creation." Its marketing expenses were up 2 percent in the last year, which the brand attributes to "investments in [direct to consumer] marketing, brand events and sports marketing."