A $145 million impairment charge added to VF’s woes in the first fiscal quarter ended June 30, contributing to a net loss of $258,886,000 against a loss of $57,425,000 last year, as revenues fell 9% to $1,907,301,000 from $2,086,336,000. Direct-to-consumer sales declined 10% to $879.2 million, including a 4% drop in DTC e-commerce, which was flat excluding Vans clearance activity. Wholesale was down 8% to $1,028.1 million. Americas sales declined 12% to $1,044.8 million, but improved sequentially from FQ4, now that a new operating platform is in place for the region. ... Log in to view full article.