×
6 712
Fashion Jobs
HARVEY NICHOLS KNIGHTSBRIDGE
Collect in Store Consultant
Permanent · LONDON
FRASERS GROUP
HR Systems Administrator
Permanent · SHIREBROOK
FRASERS GROUP
Site SEO Manager
Permanent · STRETFORD
HOLLISTER CO. STORES
Hollister CO. - Graduate Manager in Training, Stratford (Westfield)
Permanent · London
HOLLISTER CO. STORES
Hollister CO. - Graduate Manager in Training, White City London (Westfield)
Permanent · London
SELFRIDGES
Tech Business Analyst - Customer & Omni
Permanent · LONDON
NEXT
Sales Manager - Coventry Arena RP
Permanent · COVENTRY
EVERLAST GYMS
Assistant General Manager - Everlast Fitness
Permanent · SELBY
EVERLAST GYMS
Assistant General Manager - Everlast Fitness
Permanent · EPSOM
EVERLAST GYMS
General Assistant - Everlast Gyms
Permanent · SALE
EVERLAST GYMS
Assistant General Manager - Everlast Fitness
Permanent · DENTON
FRASERS GROUP
Warehouse Section Manager - Night Shift
Permanent · SHIREBROOK
VIVIENNE WESTWOOD
PA to Creative Director
Permanent · LONDON
DR. MARTENS
eu HR Administrator - French And/or German Speaking
Permanent · LONDON
HARRODS
Cleaning Operative- Day or Night
Permanent · LONDON
HARRODS
Uniform Security Officer (Cctv Operator)
Permanent · LONDON
FLANNELS
Beauty Brand Manager - Pat Mcgarth
Permanent · BELFAST
HUGO BOSS UK LTD.
Sales Executive - Shoes & Accessories + Bodywear & Hosiery
Permanent ·
HUGO BOSS UK LTD.
Womenswear Sales Manager
Permanent ·
HUGO BOSS UK LTD.
Ecommerce Marketplace Manager Northern Hub
Permanent ·
HUGO BOSS UK LTD.
Finance Manager (Maternity Contract)
Permanent ·
HUGO BOSS UK LTD.
Sales Executive Boss Menswear
Permanent ·
Ads
Published
Apr 22, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

VF Corp predicts decline in full-year sales

Published
Apr 22, 2020

VF Corporation, the owner of Vans, The North Face and Timberland, announced on Tuesday that it now expects its full-year revenues to total between $11.3 billion and $11.4 billion in the fiscal year ended March 28, 2020, down from $13.85 billion in the previous year.
 

VF Corp expects a reduction in its full-year revenues - Instagram: @vans


The prevision includes the contribution of VF’s occupational and workwear business, which the company is currently in the process of spinning off, as financial closing procedures have not yet been concluded.
 
When it reported its third-quarter results in January, VF announced that it was expecting annual revenues to total $11.75 billion, a figure which was, in itself, revised down from an earlier estimate of $11.8 billion.

However, in light of the economic disruption caused by the ongoing Covid-19 pandemic, the company withdrew this guidance last month.
 
As the health crisis continues, VF’s stores in North America and EMEA will remain closed through at least May 3, but the company has reopened most of its stores in China. In contrast to a number of its industry peers, the group has thus far continued to provide pay and benefits for its retail associates during the temporary store closures.
 
However, as reported on April 7, VF CEO Steve Rendle has taken a 50% salary reduction, with the remaining members of the company’s executive team taking a 25% cut.
 
The group has also drawn down the remaining $1 billion that was available under its senior unsecured revolving credit facility and suspended its share repurchase program.
 
On Tuesday, VF announced that, in order to repay its creditors, it is intending to offer senior notes underwritten by Barclays, BofA Securities, J.P. Morgan and Morgan Stanley.

Copyright © 2022 FashionNetwork.com All rights reserved.