Due to the pandemic, VF Corp lowered its full-year revenue projection on Friday, citing delivery delays and worker shortages in Vietnam operations.
Congestion at ports, labor shortages, and increasing freight costs have all exacerbated U.S. clothes manufacturers' troubles as they try to keep their stores stocked.
Many companies that had just begun to recover from forced plant closures due to COVID-19 lockdowns last year have experienced production delays due to labor shortages in Vietnam, a manufacturing base for many U.S. textile manufacturers.
Revenue for fiscal 2022 is expected to be at $11.85 billion, up from a previous estimate of around $12 billion.
According to IBES statistics from Refinitiv, the Denver, Colorado-based company's overall sales increased 22% to $3.62 billion in the third quarter ended Jan. 1, above analysts' average forecast of $3.60 billion.