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Vans owner slips as production delays, China curbs hit sales forecast

By Ananya Mariam Rajesh (Reuters) -Vans shoe maker VF Corp (NYSE:VFC) cut its full-year revenue forecast on Friday as it struggles with material shortages, labor issues at...
Vans owner slips as production delays, China curbs hit sales forecast © Reuters.

By Ananya Mariam Rajesh

(Reuters) -Vans shoe maker VF Corp (NYSE:VFC) cut its full-year revenue forecast on Friday as it struggles with material shortages, labor issues at factories and slump in sales in China due to COVID-related lockdowns, sending its shares down over 6%.

Fresh pandemic restrictions and store closures late last year in many Asian countries, including China, took a toll on many U.S. apparel makers that for years have relied on these countries for the bulk of their production and sales growth.

VF Corp said the fast-spreading Omicron variant of the coronavirus was also impacting its sales across the world.

"The latest virus surge across Europe has contributed to declining consumer confidence, deteriorating traffic and stretched retail staff in our stores," VF Chief Financial Officer Matt Puckett said on an earnings call.

Despite facing labor and raw material shortages, VF said it expected manufacturing to return to near full capacity in the coming weeks.

The company cut its fiscal 2022 revenue forecast to about $11.85 billion from $12 billion. It expects revenue for its "Active" unit, which houses the Vans and Supreme brands, to increase between 31% and 33%, compared with a prior range of 35% to 37% gain.

The Denver, Colorado-based company's total revenue rose 22% to $3.62 billion in the third quarter ended Jan. 1, slightly ahead of analysts' average estimate of $3.60 billion, according to IBES data from Refinitiv.

Net income rose about 49% to $517.8 million, or $1.32 per share, from a year earlier.

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27-05-2022 10:33:32 (UTC+7)

EUR/USD

1.0758

+0.0034 (+0.32%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (6)

EUR/USD

1.0758

+0.0034 (+0.32%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (6)

GBP/USD

1.2653

+0.0059 (+0.47%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (7)

USD/JPY

126.82

-0.32 (-0.26%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

AUD/USD

0.7139

+0.0042 (+0.58%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (4)

USD/CAD

1.2750

-0.0022 (-0.17%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

EUR/JPY

136.44

+0.10 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (2)

EUR/CHF

1.0301

+0.0013 (+0.12%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (5)

Gold Futures

1,852.17

+4.57 (+0.25%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (5)

Silver Futures

22.086

+0.121 (+0.55%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (1)

Copper Futures

4.2965

+0.0233 (+0.55%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (6)

Crude Oil WTI Futures

114.20

+0.11 (+0.10%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (4)

Sell (3)

Brent Oil Futures

114.42

+0.25 (+0.22%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (4)

Natural Gas Futures

8.827

+0.018 (+0.20%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (6)

US Coffee C Futures

225.78

+8.73 (+4.02%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (7)

Euro Stoxx 50

3,740.31

+92.75 (+2.54%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (2)

Sell (5)

S&P 500

4,057.84

+79.11 (+1.99%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

DAX

14,231.29

+223.36 (+1.59%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (6)

FTSE 100

7,564.92

+42.17 (+0.56%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (6)

Hang Seng

20,728.00

+611.80 (+3.04%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

US Small Cap 2000

1,838.24

+39.07 (+2.17%)

Summary

Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (5)

IBEX 35

8,888.80

+128.60 (+1.47%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (7)

BASF SE NA O.N.

50.790

+1.325 (+2.68%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (1)

Sell (4)

Bayer AG NA

65.90

+2.12 (+3.32%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (3)

Allianz SE VNA O.N.

198.80

+1.32 (+0.67%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Adidas AG

176.76

+4.68 (+2.72%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Deutsche Lufthansa AG

6.850

+0.073 (+1.08%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (1)

Siemens AG Class N

118.52

+3.70 (+3.22%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Deutsche Bank AG

10.414

+0.158 (+1.54%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (0)

 EUR/USD1.0758↑ Sell
 GBP/USD1.2653↑ Sell
 USD/JPY126.82↑ Buy
 AUD/USD0.7139Neutral
 USD/CAD1.2750↑ Sell
 EUR/JPY136.44↑ Buy
 EUR/CHF1.0301Neutral
 Gold1,852.17↑ Sell
 Silver22.086↑ Buy
 Copper4.2965Sell
 Crude Oil WTI114.20↑ Buy
 Brent Oil114.42↑ Buy
 Natural Gas8.827↑ Sell
 US Coffee C225.78↑ Sell
 Euro Stoxx 503,740.31Sell
 S&P 5004,057.84↑ Sell
 DAX14,231.29↑ Sell
 FTSE 1007,564.92↑ Sell
 Hang Seng20,728.00↑ Buy
 Small Cap 20001,838.24Buy
 IBEX 358,888.80↑ Sell
 BASF50.790Neutral
 Bayer65.90↑ Buy
 Allianz198.80↑ Buy
 Adidas176.76↑ Buy
 Lufthansa6.850↑ Buy
 Siemens AG118.52↑ Buy
 Deutsche Bank AG10.414↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,830/ 6,940
(10/ 20) # 1,727
SJC HCM6,840/ 6,940
(10/ 10) # 1,727
SJC Hanoi6,840/ 6,942
(10/ 10) # 1,729
SJC Danang6,840/ 6,942
(10/ 10) # 1,729
SJC Nhatrang6,840/ 6,942
(10/ 10) # 1,729
SJC Cantho6,840/ 6,942
(10/ 10) # 1,729
Cập nhật 27-05-2022 10:33:35
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ↀ Giá vàng thế giới
$1,854.47+0.350.02%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V31.25031.870
RON 95-III30.65031.260
E5 RON 92-II29.63030.220
DO 0.05S25.55026.060
DO 0,001S-V26.35026.870
Dầu hỏa 2-K24.40024.880
ↂ Giá dầu thô thế giới
WTI$113.06-0.07-0.06%
Brent$114.30+0.140.12%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.030,0023.340,00
EUR24.263,1125.622,23
GBP28.523,9629.740,84
JPY177,60188,03
KRW15,9119,38
Cập nhật lúc 10:26:46 27/05/2022
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