North Face parent VF Corp. reports profit and revenue miss

VF Corp. VFC, +0.19% shares dropped astir 7% successful Friday premarket trading aft The North Face and Vans genitor reported fiscal second-quarter net and gross that missed expectations. Net income totaled $464.1 million, oregon $1.18 per share, up from $256.7 million, oregon 66 cents per share, past year. Adjusted EPS of $1.11 missed the FactSet statement for $1.15. Revenue of $3.198 cardinal was up from $2.608 cardinal past twelvemonth and beneath the FactSet statement for $3.490 billion. VF Corp. says it has experienced "isolated merchandise delays" owed to the ongoing COVID-19 pandemic, with manufacturing constraints and larboard delays impacting its proviso chain. Stores astir the satellite are operating, though immoderate stores successful Asia remained unopen astatine the extremity of the quarter. VF Corp. maintained its full-year guidance for gross of astir $12 cardinal and adjusted EPS of $3.20. The FactSet statement is for gross of $11.947 cardinal and EPS of $3.20. VFC banal has fallen 13.3% for the twelvemonth to day portion the S&P 500 scale SPX, +0.30% is up 21.1% for the period.