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Article Date: February 2017
Word Count: 741

Weak U.S. Market, Charges Push Down VF Income in Q4

Ongoing challenges in the U.S. wholesale market from bankruptcies and liquidations of seasonal products coupled with a decision to restructure the business and fold the Lucy brand into The North Face combined to lower net income 15% to $264,333,000 from $312,209,000 for the final quarter ended Dec. 31 at VF Corp. as revenues were flat at $3,290,895,000 against $3,294,661,000. This year’s results include an $80 million pre-tax impairment charge on the Lucy trademark as VF looks to keep the product creation engine of the brand but expand its reach through the better known TNF trademark and its global distribution. It ... Log in to view full article.


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