Categories AlphaGraphs, Earnings, Retail

VF Corp. (VFC) slips to a loss in Q4, misses estimates

VF Corporation (NYSE: VFC) slipped to a loss in the fourth quarter of 2020 from a profit last year due to the impairment of goodwill as well as the impact of COVID-19 pandemic. The results missed analysts’ expectations.

VF Corporation (VFC) Q4 2020 earnings review

The top-line fell by 11% due to lower consumer demand as a result of the COVID-19 outbreak and related government actions and regulations. Gross margin dropped by 150 basis points due to elevated promotional activity to clear excess inventory, partially offset by a favorable mix shift toward higher-margin businesses.

The company will not provide a financial outlook for full-year 2021 due to the uncertainty of the duration and severity of COVID-19. The first-quarter of 2021 revenues are expected to be down slightly more than 50%. Full-year fiscal 2021 free cash flow is expected to exceed $600 million.

Take a look our Retail stories here

Most Popular

Key highlights from Deere & Company’s (DE) Q1 2025 earnings results

The Deere & Company (NYSE: DE) reported its first quarter 2025 earnings results today. Worldwide net sales and revenues decreased 30% year-over-year to $8.50 billion. Net income was $869 million, or $3.19 per

CSCO Earnings: A snapshot of Cisco’s Q2 2025 report

Cisco Systems Inc. (NASDAQ: CSCO), a leading manufacturer and distributor of data networking products, on Wednesday reported financial results for the second quarter of 2025. The San Jose-headquartered tech firm

What to look for when Walmart (WMT) reports Q4 results next week

Over the years, Walmart Inc. (NYSE: WMT) has consistently dominated the US grocery market, benefitting from lower prices and its wide product range across categories. After delivering an impressive performance

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close