Despite posting impressive revenue and earnings gains in the first quarter, VF Corp. wasn't immune to the difficulties of the U.S. retail environment and will be pulling the plug on the Nautica women's sportswear business as a result.
"Given the consolidation in the department store channel and the challenging environment in the women's better sportswear category, we were not able to gain critical mass in the category," Bob Shearer, chief financial officer of VF, said of the Nautica women's business during a conference call with analysts.
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