VF Corp revises outlook for full fiscal year 2021

United States
Published:  28 January, 2021

Revenue from continuing operations for the U.S. apparel and footwear Group decreased 6% to US$3 billion in the third quarter of its fiscal year 2021.

Revenue for VF’s Active segment decreased 9% in the third quarter of the Group’s fiscal 2021, including a 6% decrease in Vans brand revenue. Revenue for the Outdoor segment decreased 5% in the quarter, including flat revenue in The North Face brand. Work segment revenue increased 8%, including a 9% increase in Dickies brand revenue. International revenue was flat in the quarter; Europe revenue was up 1%, and Greater China revenue increased 18%, including a 22% increase in Mainland China.

VF said full year fiscal 2021 revenue is now expected to be in the range of US$9.1 billion to US$9.2 billion, reflecting a decrease of 12% to 13% on an adjusted basis. Full year fiscal 2021 adjusted earnings per share is now expected to be approximately US$1.30, reflecting a decrease of approximately 51%.