Under Armour (UA, UAA) reports wholesale revenue increased 5% to $742M and direct-to-consumer revenue shot up 23% to $518M in Q4.

The company's gross margin rate fell 320 bps to 44.8% as inventory managements efforts and F/X swings cut in.

SG&A expenses as a percentage of sales fell 70 bps to 32.1% of sales.

Looking ahead, Under Armour expects 2017 revenue of $5.4B and gross margin rate to be slightly down.

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