Net loss was BRL 75,354,000 ($14.0 mm) in the second quarter at Under Armour’s Brazilian partner, against a profit of BRL 30,004,000 last year on revenues that plunged 70% to just BRL 98,681,000 ($18.3 mm) down from BRL 326,978,000. The country was hit hard by the coronavirus pandemic, closing retail stores and factories starting in mid-March. Vulcabras reopened manufacturing at the end of April, but only at 30% capacity due to health and safety requirements. After a terrible April and May, retail sales began to recover when stores reopened, and were down just 20% year-over-year in June. Gross margin narrowed ... Log in to view full article.