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VF Corp Reports Balanced Q2 Performance & Revised Full Year Outlook

Q2’FY23 Financial Highlights Revenue $3.1 billion, declined 4% with big four brands down 5% and the balance of the portfolio up 4% The North Face revenue $1.0 billion, up 8% Vans revenue $1.0 billion, down 13% Gross margin 51.4%, down 230 basis points Operating margin 2.9%, down 2,040 basis points Earnings (loss) per share (EPS) $(0.31), down 126% H1’FY23 Financial Highlights Revenue $5.3 billion, down 1% with big four brands down 2% and the balance of the portfolio increasing 6%…