Vans Owner Tumbles as Supply-Chain Woes Hurt Results
- Quarterly sales for the apparel maker fall short of estimates
- Virtually all of its brands are facing supply-chain challenges
Photographer: Patrick T. Fallon/Bloomberg
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VF Corp. slumped after the owner of Vans sneakers and the Supreme streetwear brand reported earnings that fell short of Wall Street’s expectations, citing port congestion and ongoing coronavirus outbreaks that have constrained suppliers.
Adjusted earnings from continuing operations climbed to $1.11 a share in the second quarter, the company said Friday, missing the $1.14 average of analysts’ estimates. Sales were $3.2 billion, compared with an estimate of $3.5 billion. Revenue in the active segment, which includes the Vans footwear line, also fell short of estimates.