VFC

VF Corp (NYSE:VFC) was down over 8% in midday trading today. The news that drove VF Corp's plunge downward was sufficiently bad that it sent much of the sector down with it. The company's warning focused on inventory levels and promotional issues throughout the apparel industry, including footwear. Issues of declining consumer spending in the face of massive inflation also did damage to apparel company projections. VF Corp's losses resounded throughout the market. Nike (NYSE:NKE) was down 2.3% during Monday trading, while Adidas (OTCQX:ADDYY) lost 2.23% itself. Skechers (NYSE:SKX) was also down 2.82%. Footwear retailers weren't immune either. Foot Locker (NYSE:FL) slipped 1.8% in midday trading on Monday.
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