VF : Reports Loss, Revenue Falls by Almost Half

By Allison Prang

Retailer VF Corp. logged a loss as revenue fell by almost half from a year prior.

VF, the parent of Vans and the North Face, reported a loss of $285.6 million, or 73 cents a share. A year earlier, the company's profit was $49.2 million, or 12 cents a share.

The company's loss from continuing operations on an adjusted basis was 57 cents a share.

Net revenue declined to $1.08 billion, falling 48% from a year ago. Analysts expected $975.7 million, according to FactSet.

The company said that three-fourths of retail locations in North America were open when the quarter ended, but more than 120 of its retail stores have re-closed after the quarter ended because of the virus's resurgence.

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