But while the strategy and management have changed, the financial results are still lagging well behind, with steep losses and sharp sales declines in the fiscal fourth quarter and continuing weakness in the U.S. wholesale market.
“Almost everything is playing out as I expected it would,” the CEO told analysts on a conference call. “We’ve taken the tough management that we needed to return to growth. Key organizational changes, leadership changes and strategic moves have largely been executed by the time we get to the end of my first year.”VF’s net losses for the fiscal fourth quarter widened to $418.3 million, or $1.08 a share, from $214.9 million, or 55 cents, a year earlier.
VF has been going through its brand portfolio and looking to see what fits with its go-forward strategy. While the company plays coy on just what brands are in and which are out, Darrell gave updates on The North Face and Vans’ performance personally.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FXStreetNews - 🏆 14. / 72 Read more »