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Tiger'sFortuneQuest| Weifu Company fell more than 14% before the market and unexpectedly recorded adjusted loss per share in Q4

2024-05-23 17:01:00

Gelonghui May 23| North, Vans brand parent company Weifu Company (VFCTiger'sFortuneQuest.US) U.S. stocks fell more than 14% to $10.59 before the session. Weifu's sales in the fourth quarter of fiscal 2024 fell 13% year-on-year to US$2.37 billion, lower than analysts 'expectationsTiger'sFortuneQuest$2.42 billion, reflecting sluggish demand for clothing and footwear amid tight consumer spending; an adjusted loss per share of $0.32, while analysts expected a profit per share of $0.01. Sales in the Americas, the company's largest market, fell 22% during the period. In addition, the company announced the appointment of Paul Vogel, a former veteran of streaming platform Spotify Technology, as its new chief financial officer, effective July 8.

Tiger'sFortuneQuest| Weifu Company fell more than 14% before the market and unexpectedly recorded adjusted loss per share in Q4