威富集团（VFC）今日盘中股价大跌13.18%，引发市场广泛关注。
消息面上，威富集团于盘前发布了2027财年第一季度财报。数据显示，公司调整后每股亏损为0.27美元，较市场预期的亏损0.22美元扩大约22.73%，同比亦较去年同期的亏损0.24美元进一步恶化。尽管营收约16.69亿美元小幅超出16.40亿美元的市场预期，但利润端不及预期成为压制股价的核心因素。此前市场对公司利润修复寄予较高期望，上一季度财报营收及EPS双双超预期，公司亦恢复年度指引并预期实现约8%的调整后运营利润率，本次Q1业绩落空使得修复节奏遭到质疑。此外，UBS此前亦指出，高促销力度尤其在Vans和Timberland品牌上对利润率构成压力。
与此同时，公司因执行“重塑”（Reinvent）战略，总计录得1.938亿美元的重组费用，进一步拖累了本季度的盈利表现。在2027财年业绩展望方面，公司已明确排除了2026财年因终止养老金计划而产生的约1亿美元净影响，以及任何可能出现的关税退税净影响，这一调整令市场对核心业务增长动力产生担忧。
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