Net income in VFC’s fiscal second quarter ended Sep. 30 was $52,178,000, despite a $150 million operating deficit from held-for-sale Supreme, lapping last year’s $450,697,000 loss, as revenues slipped 6% to $2,757,948,000 from $2,920,123,000. Last year’s red ink included the nine-figure tax bill for an adverse ruling on the tax treatment of VF’s Timberland acquisition 13 years ago. The $1.5 billion sale of Supreme to EssilorLuxottica closed on Oct. 1, just after the period ended.

The Americas region tumbled 10% (-9% CC) to $1,355.9 million but was better sequentially after the 13% ... Log in to view full article.