A second nine-figure writedown of the Supreme brand resulted in a bottom line loss of $214,892,000 in the final fiscal quarter ended Mar. 31 against a profit of $80,842,000 last year, on 3% lower revenues of $2,739,613,000 down from $2,824,664,000 that would have been flat constant currency. The $313 million Q4 impairment was taken due to lowered financial expectations for Supreme, while an earlier, $422 million impairment in Q2 was driven by rising interest rates and foreign currency fluctuations. VFC paid about $2.1 billion for the streetwear brand in late 2020.

Americas sales declined 7% to $1,449.6 million, pressured by weakness ... Log in to view full article.