By  on April 28, 2009

NEW YORK — A highly diversified portfolio of brands and business segments couldn’t prevent apparel giant VF Corp. from feeling the sting of the accelerating downturn of the global economy during the first quarter.

In addition to reporting a double-digit decline in earnings for the three months ended March 31, VF’s management said revenues were anticipated to fall between 5 and 7 percent in 2009, a downward revision from earlier guidance of 3 to 4 percent declines. Earnings per share are expected to be in the range of $4.70 to $5.00, compared with $5.42 in 2008. Management will also no longer provide quarterly earnings guidance going forward.

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