In Q2, the company’s most difficult comparison periodof the FY, net income slid 28% to $74,977,000 from $104,018,000 on a 12%revenue decline to $1,466,808,000 from $1,658,401,000. The Outdoor and ActionSports Coalition, bolstered by sales growth in Asia (+32%) anddirect-to-consumer (+19%), generated an 8% operating profit to $63,255,000.Total Coalition revenues fell 2.5% on a reported basis (+2% in C%) to$510,533,000 from $523,499,000. Vans sales rose 14% in constant currency; TheNorth Face sales improved 2% in C$. Management confirmed that conditions remaindifficult in key European markets, but added that “it was seeing signs ofstabilization” and improvements in gross margins.

VFC management says it’s ... Log in to view full article.