Under Armour on Conference Call- From prepared remarks in 8-K; Stock trading near pre-market lows of $40.25, down approx 8%
- Q2 gross margins decreased 70 basis points to 47.7% compared to 48.4% in the prior year's period. Sales mix negatively impacted the second quarter by approximately 130 basis points, primarily driven by the continued strength of footwear and international growth. Partially offsetting this negative impact were continued favorable product margins, benefiting gross margin by approximately 50 basis points.
- Looking at cash flows, investment in capital expenditures was $149 million for the second quarter compared to $93 million in the prior year's period. Continue to expect to spend between $450 and $475 million for the full year, including investments in our global offices around the world including headquarters in Baltimore, distribution centers, SAP platform, and global Direct-to-Consumer.