November 13, 2023
Net income attributable to shareholders was nearly halved to $137,676,000 from $270,120,000 for the first nine months of the year, as consolidated revenues fell by 14% to $5,986,621,000 from $6,971,820,000.
Gregory backpack and hydration gear sales improved 23% in the third quarter, while the other brands segment, which includes High Sierra, Lipault, and Hartmann, among others, grew 15% over the prior year.
Net income inched down 2% to ¥172 million ($1.2 mm) from ¥176 million in the fiscal second quarter ended Sep. 30, on 3% sales growth to ¥13,068 million ($90.5 mm) from ¥12,665 million.
The newly public company now has an issuer credit rating of BB-, up from B+, following the repayment of about €520 million in debt using proceeds from its IPO and existing cash.
VF Corp. and Vans have settled all trademark infringement claims with WMT asking that the case be dismissed with prejudice, according to a filing in Cen. CA district court.