VF's stock at last check tumbled 6% to $52.10 after the retailer fell short of analyst expectations on both earnings and revenue for its fiscal fourth quarter. The shares closed on Thursday up 5.1% at $55.54.
VF, whose North American stores have been shuttered since March 16 amid efforts to slow the spread of the deadly virus, reported adjusted earnings of 10 cents a share for the quarter ended March 28.
That came in below the 11 cents a share forecast by analysts surveyed by Zacks Investment Research. That estimate, in turn, had already been cut by more than 15% over the past 11 days.
VF's earnings per share also missed the mark with analysts polled by FactSet, who had estimated adjusted earnings of 18 cents a share.
The Vans, North Face and Timberland corporate parent reported revenue of $2.1 billion for the quarter, missing the $2.3 billion estimate of analysts surveyed by Zacks.
In its quarterly earnings release, VF said it had $3 billion in cash to draw upon, having recently completed a bond offering to establish a "cash buffer to ensure near-term liquidity."
The outdoor retailer also said it had $2.2 billion on its revolving credit facility as well.
In response to the covid-19 crisis, VF noted it had halved the base salary of its chief executive and cut its executive leadership team's salaries by a quarter.