V.F. Corporation (NYSE:VFC) Q1 2025 Earnings Conference Call August 6, 2024 4:30 PM ET Company Participants Allegra Perry - Vice President of Investor Relations Bracken Darrell - President & Chief Executive Officer Paul Vogel - Executive Vice President & Chief Financial Officer Conference Call Participants Brooke Roach - Goldman Sachs Michael Binetti - Evercore ISI Paul Lejuez - Citigroup Jim Duffy - Stifel Matthew Boss - JPMorgan Laurent Vasilescu - BNP Paribas Bob Drbul - Guggenheim Jay Sole - UBS Mitch K ...

For the quarter ended June 2024, V.F. (VFC) reported revenue of $1.91 billion, down 8.6% over the same period last year. EPS came in at -$0.33, compared to -$0.15 in the year-ago quarter.The reported revenue represents a surprise of +3.42% over the Zacks Consensus Estimate of $1.84 billion. With the consensus EPS estimate being -$0.35, the EPS surprise was +5.71%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next ...

V.F. (VFC) came out with a quarterly loss of $0.33 per share versus the Zacks Consensus Estimate of a loss of $0.35. This compares to loss of $0.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.71%. A quarter ago, it was expected that this maker of brands such as Vans, North Face and Timberland would post earnings of $0.01 per share when it actually produced a loss of $0.32, delivering a surprise of -3,300%.Over the last f ...

Exhibit 99 VF CORPORATION REPORTS FIRST QUARTER FISCAL 2025 RESULTS AND REITERATES FY25 FREE CASH FLOW GUIDANCE • The company reiterates guidance for free cash flow plus the proceeds from non-core physical asset sales of approximately $600 million, excluding the impact of the divestiture of Supreme, which is anticipated to be completed by the end of calendar year 2024. Supreme is expected to be reported as discontinued operations beginning in Q2'FY25. Shareholder Returns 1 • Revenue $1.9 billion, down 9% (d ...

Core Viewpoint - V.F. Corporation (VFC) is expected to report declines in both revenue and earnings for the first quarter of fiscal 2025, with revenues estimated at $1.9 billion, reflecting an 11.3% decrease year over year, and an expected loss of 35 cents per share compared to a loss of 15 cents in the prior year [1] Group 1: Financial Performance Expectations - The Zacks Consensus Estimate for V.F. Corp's quarterly revenues is $1.9 billion, indicating an 11.3% decline from the previous year's quarter [1] - The consensus estimate for earnings is a loss of 35 cents per share, which is worse than the loss of 15 cents per share reported in the same quarter last year [1] - V.F. Corp has a trailing four-quarter negative earnings surprise of 836.6%, indicating significant challenges in meeting earnings expectations [1] Group 2: Operational Challenges - The company's quarterly results are likely to be negatively impacted by a tough operating environment and poor wholesale performance, particularly in the Americas region and the Vans brand [2] - Sales for the Vans brand and the Americas region are anticipated to decline by 16.8% each year over year, with wholesale revenues expected to fall by 7.6% [2] - Management has indicated that revenues will face challenges in the current quarter, with expectations of year-over-year gross margin erosion due to excess inventory issues [2] Group 3: Strategic Initiatives - V.F. Corp's transformation program, named Reinvent, aims to enhance brand focus and improve operational performance, targeting objectives such as improving North America performance and reducing costs [3] - The company is effectively managing costs, with a projected decrease of 2.8% in selling, general, and administrative expenses for the fiscal first quarter [3] Group 4: Earnings Prediction Model - The Zacks Model does not predict an earnings beat for V.F. Corp, as it has an Earnings ESP of 0.00% and a Zacks Rank of 5 (Strong Sell) [4]

Company Performance - V.F. (VFC) stock closed at $16.58, reflecting a +1.47% increase, outperforming the S&P 500's decline of 0.5% [1] - The stock has risen by 27.26% over the past month, surpassing the Consumer Discretionary sector's loss of 0.46% and the S&P 500's gain of 0.1% [1] - Analysts expect V.F. to report earnings of -$0.35 per share on August 6, 2024, indicating a year-over-year decline of 133.33% [1] - Revenue is projected at $1.85 billion, down 11.3% from the previous year [1] Fiscal Year Estimates - Zacks Consensus Estimates predict earnings of $0.85 per share and revenue of $10.18 billion for the fiscal year, reflecting changes of +14.86% and -2.61% respectively [2] - Recent changes to analyst estimates indicate shifting business dynamics, with positive revisions suggesting confidence in the company's performance [2] Valuation Metrics - V.F. has a Forward P/E ratio of 19.17, which is a premium compared to the industry average of 14.23 [3] - The company has a PEG ratio of 1.26, compared to the industry average PEG ratio of 1.52 [3] Industry Context - The Textile - Apparel industry is part of the Consumer Discretionary sector, holding a Zacks Industry Rank of 178, placing it in the bottom 30% of over 250 industries [4] - The top 50% rated industries outperform the bottom half by a factor of 2 to 1, indicating the relative weakness of the industry [4]

This hyper-limited capsule collection, that includes Vans Classic Slip-On Checkerboard Shoes featuring custom Fat Tire design along with a coordinating hat, socks, and cooler, is now available for preorder at DrinkFatTire.com. Styled for summer, craft drinkers can reach for an easy-drinking Fat Tire sporting Vans-inspired packaging and cans."Like Fat Tire, Vans speaks to those who appreciate authentic, quality products and identify with our respective roots as originators," said Fat Tire Brand Manager Taylo ...

Core Insights - V.F. Corporation (VFC) has announced the sale of the streetwear brand Supreme to EssilorLuxottica for $1.5 billion, resulting in a 13.6% surge in VFC's shares on July 17 [1] - The sale reflects V.F. Corp's strategic focus and the increasing value of streetwear brands in the market [1] Company Strategy - The decision to sell Supreme indicates that the acquisition, which was expected to enhance V.F. Corp's portfolio, did not meet growth expectations, leading to a write-down of about two-thirds of Supreme's value by 2023 [2][3] - Management's efforts to revive Supreme diverted attention from other major brands like The North Face and Vans, which were already facing challenges [3] - The sale aligns with V.F. Corp's strategy to refine its portfolio for better alignment and operational efficiency [3] Market Reaction - Investors reacted positively to the sale, as evidenced by the significant rise in V.F. Corp shares following the announcement [5] - Over the past three months, V.F. Corp's shares have increased by 25.8%, contrasting with a 4.6% decline in the industry [5] EssilorLuxottica's Perspective - EssilorLuxottica views the acquisition of Supreme as a strategic expansion beyond traditional eyewear offerings, aiming to innovate and connect with new demographics [4]

Key TakeawaysVF Corporation sold its Supreme streetwear brand to French eyeglass retailer EssilorLuxottica for $1.5 billion.VF CEO Bracken Darrell said the company's strategic portfolio review determined that selling Supreme was logical.The parent of Vans and North Face brands has been attempting a turnaround as it faced falling demand and too much inventory. VF Corporation (VFC) shares soared Wednesday after the struggling clothing retailer announced that Paris-based retailer EssilorLuxottica purchased it ...

Core Insights - VF Corporation's shares increased by 8.9% in premarket trading due to EssilorLuxottica's agreement to acquire the Supreme brand for $1.5 billion in cash by the end of 2024 [1] - The stock is expected to open near $15.20, potentially reaching its highest level since early March, and is attempting to overcome a 24.4% year-to-date deficit [1] - The put/call open interest ratio for VF Corporation is 1.51, indicating a high level of bearish sentiment, with the 10-day put/call volume ratio in the 78th percentile of the past year [1] Trading Metrics - Short interest has decreased slightly, with 49.7 million shares sold short, representing 12.8% of the total available float [2] - It would take over six days to cover the short positions at the average trading pace of VF Corporation [2]