VF Corporation expects to return to growth in Q4

Second quarter revenue at VF Corporation decreased 18 percent or 19 percent in constant dollars to 2.6 billion dollars driven by store closures and lower consumer demand as a result of the Covid-19 outbreak and related government actions and regulations. The company said in a statement that for the fiscal year 2021, revenue is expected to be at least 9 billion dollars, reflecting a decrease of approximately 14 percent on an adjusted basis, including low single-digit growth in the second half driven by a return to growth in the fourth quarter. The company further said that adjusted earnings per share are expected to be at least 1.20 dollars, reflecting a decrease of approximately 55 percent or approximately 56 percent in constant dollars.