Net loss at the sustainability-focused sneaker company nearly quadrupled to $29,368,000 in the second quarter from a loss of $7,606,000 last year, on 15% higher revenues of $78,174,000 up from $67,905,000. The shortfall reflected an $11.6 million non-cash charge to write down unsold first generation apparel, primarily leggings and narrowly targeted items, which combined with higher logistics costs, regional mix and unfavorable ForEx to pull gross margin down 2010 basis points to just 36.1%. Excluding the writedown, adjusted gross margin was off 510 b.p. to 51.0%. Below the line, SG&A bulged ... Log in to view full article.