Top SGB Updates
VF Corp Reduces Full-Year Guidance After Q3 Revenue Miss
VF Corp cut its full-year revenue and profit forecast on Thursday after missing Wall Street estimates for third-quarter revenue due to a shortfall in the U.S. On a currency-neutral basis in the quarter, sales grew 13 percent at Vans, 4 percent at The North Face and 13 percent at Dickies. Timberland's sales were down 5 percent.
SGB Executive
Timberland’s Turnaround Stalls
VF Corp. reported Timberland’s sales fell 4 percent on a currency-neutral basis in the holiday quarter and the brand is now expected to show a decline in sales for its fiscal year ended March 31. VF officials also indicated growth for Timberland wouldn’t likely resume until fiscal 2022.
