Store closures and low demand lead to fall in VF revenue
19/10/2020
VF Corporation, the parent group of The North Face, has reported revenues of $2.6 billion for the second quarter of its current business year, the three months ending September 26. This represents a decline year on year of 18%.
On presenting the results, VF said the fall in revenue had been driven by store closures and lower consumer demand as a result of the covid-19 outbreak.
It said it expected its full-year revenues to be at least $9 billion and to reduce the decline for 12-month period to 14% year on year.
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