VF Corp Reports Loss, Revenue Falls by Almost Half
July 31 2020 - 7:47AM
Dow Jones News
By Allison Prang
Retailer VF Corp. logged a loss as revenue fell by almost half
from a year prior.
VF, the parent of Vans and the North Face, reported a loss of
$285.6 million, or 73 cents a share. A year earlier, the company's
profit was $49.2 million, or 12 cents a share.
The company's loss from continuing operations on an adjusted
basis was 57 cents a share.
Net revenue declined to $1.08 billion, falling 48% from a year
ago. Analysts expected $975.7 million, according to FactSet.
The company said that three-fourths of retail locations in North
America were open when the quarter ended, but more than 120 of its
retail stores have re-closed after the quarter ended because of the
virus's resurgence.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
July 31, 2020 07:32 ET (11:32 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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