Under Armour reports Q2 net loss of 12 mn dollars

Under Armour reported revenue increase of 9 percent or 8 percent currency neutral to 1.1 billion dollars for the second quarter of 2017. Revenue to wholesale customers rose 3 percent to 655 million dollars and direct-to-consumer revenue was up 20 percent to 386 million dollars. Operating loss was 5 million dollars and including other interest and expense, there was a net loss of 12 million dollars in the second quarter and a 0.03 dollar loss in diluted earnings per share. The company has also announced a restructuring plan, which includes cutting 2 percent of its workforce.