• The North Face and Vans Parent Company Reports Nearly 50 Percent Revenue Decline

    13 days ago - By Hypebeast

    VF Corporation , the parent company of both The North Face and Vans , has issued its Q1 2021 report, calculated from the 13 weeks between April 1 to June 29 2020. In this timeframe, revenue dropped dramatically due to the coronavirus pandemic, reaching a nearly 50 percent decline down to $1.1 billion USD. Unsurprisingly, store closures and decreased consumer demand were the prime factors affecting loss. VF Corp reported operating loss of $247 million USD but remains confident that Q2 2021 will be much stronger, estimating revenues to be down less than 25 percent and a full-year cash flow...
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  • Under Armour Reports $183 Million USD Loss in Q2 2020

    Under Armour Reports $183 Million USD Loss in Q2 2020

    13 days ago - By Hypebeast

    Under Armour was one of the first companies to warn of weakening revenue in 2020 due to the coronavirus pandemic, but it couldn't have predicted the $590 million USD loss and 23 percent decline in Q1 2020. Q2 sees the company again suffering a loss but it beat expectations, reporting a total drop of $182 million USD. Considering that year-over-year share prices have nearly halved since the year began, Under Armour is in a tough spot. Still, the company beat analyst expectations and enjoyed a brief 19 percent bump to its stock before trading began on July 31. Under Armour remains optimistic...
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