VF Corporation (USA) reported fourth quarter and full year financial results.
For the first 10 months of the year ended March 31, 2020, revenues and profits rose year-on-year.
Summary of Key Results
- Revenue for the full year was $10.49 billion, up 2% from $10.27 billion a year earlier.
- Operating income for the year fell to $927 million, down 22% from $1,109 million last year. This was mainly attributable to a $323.2 million charge for impairment of goodwill.
- Net income for continuing operations was $629 million, down 28% from $870 million the year before.
- For Q4, revenue fell 11% to $2.1 billion, from $2.36 billion year-on-year.
- The company showed an operating loss of $256.7 million in Q4, mainly due to a $323.2 million charge for impairment of goodwill.
