Sportswear CFO Commentary and Financial R ev1ew Second Quarter 2024 July 25, 2024 Exhibit 99.2

DTC DTC.com DTC B&M y/y U.S. LAAP EMEA SG&A EPS bps direct-to-consumer DTC e-commerce DTC brick & mortar year-over-year United States Latin America and Asia Pacific Europe, Middle East and Africa selling, general & administrative earnings per share basis points “+” or “up” “-” or “down” LSD% MSD% HSD% LDD% low-20% mid-30% high-40% increased decreased low-single-digit percent mid-single-digit percent high-single-digit percent low-double-digit percent low-twenties percent mid-thirties percent high-forties percent “$##M” “$##B” c.c. M&A FX ~ H# Q# YTD PFAS in millions of U.S. dollars in billions of U.S. dollars constant-currency mergers & acquisitions foreign exchange approximately First half, second half Quarter 1, 2, 3, 4 Year-to-date perfluoroalkyl and polyfluoroalkyl substances

W E C O N N E C T A C T I V E P E O P L E W I T H T H E I R P A S S I O N S

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• • • (dollars in millions, except per share amounts) Q2'24 Q2'23 Change Net Sales $570.2 $620.9 -8% Gross margin 47.9% 50.6% -270 bps SG&A percent of net sales 53.1% 50.3% +280 bps Operating income (loss) ($23.8) $6.2 ($30.0) Operating margin -4.2% 1.0% -520 bps Net income (loss) ($11.8) $8.4 ($20.2) Diluted EPS ($0.20) $0.14 ($0.34)

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Headwinds • Channel Profitability: lower margins primarily due to the impact of efforts to spur demand and reduce inventory, as well as changes in sales provisions • Other: includes changes in inventory provisions • FX: unfavorable effects from foreign currency hedge rates Tailwinds • Other: includes benefit from lower inbound freight costs • Channel & Region Sales Mix: favorable channel net sales mix shift

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(1) Constant-currency net sales is a non-GAAP financial measure. See “References to Non-GAAP Financial Information” above for further information.