anilbolukbas/iStock Editorial via Getty ImagesIntroduction I last covered V.F. Corporation (NYSE:VFC) on April 26th, calling it my "top turnaround for 2024" and assigning a "Strong Buy" rating. At the time of publication, shares were trading at $12.64, and since then, have soared 38.58%, significantly outperforming the S&P 500's modest 4.79% return over the same period. VFC reported its Q1 FY2025 earnings earlier this week, which I would describe as "less bad" than expected. Revenues reached $1.91 billi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 29, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number: 1-5256 V. F. CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation ...

V.F. Corporation (VFC) reported first-quarter fiscal 2025 results, wherein the top and bottom lines beat the Zacks Consensus Estimate. Although the company’s sales and earnings declined year over year, it noted improvements sequentially. The company’s fiscal first-quarter results reflected sequential revenue improvements across all its brands. Moreover, VFC is on track with its Reinvent program and expects to deliver on its cost-saving target.V.F. Corp reported an adjusted loss per share of 33 cents compare ...

Hinterhaus Productions/DigitalVision via Getty Images This article covers V.F. Corporation's (NYSE:VFC) fiscal Q1 2025 results and earnings call. It also reviews the valuation after my Hold article covering the 4Q24 results. The company's results continue to be challenged, with some signs of sequential improvement but still significantly down. In fact, considering the length of the downturn, it is strange that the company is not turning faster in some areas. The market puts a lot of confidence in the co ...

Core Viewpoint - V.F. Corporation's recent quarterly earnings report showed slight improvements in revenue and loss per share, but the overall performance remains concerning, particularly for its core brands [3][13]. Financial Performance - For Q1 FY2025, V.F. Corp. reported an adjusted loss per share of $0.33, slightly better than expectations, with revenues of $1.91 billion, down 8.5% year-over-year [3][4]. - The Americas region experienced a 12% decline in revenues, while the APAC region saw modest growth of 2% year-over-year [3][4]. - GAAP EPS was negative $0.67, primarily due to a $0.30 impairment charge and restructuring costs [4][6]. Brand Performance - Vans brand sales fell by 21%, indicating ongoing internal issues despite a challenging macroeconomic environment [7]. - The North Face recorded its weakest quarterly revenues in three years but still managed a 12.7% CAGR over the last four years, with only a 3% year-over-year decline [8]. - Timberland and Dickies saw revenue declines of 14% and 10%, respectively, indicating persistent brand weaknesses [8]. Supreme Sale Impact - V.F. Corp. sold Supreme for $1.5 billion, a decision aimed at generating cash to pay off upcoming debt, with the sale expected to close by the end of Q3 FY2025 [11][12]. - The sale is anticipated to reduce total revenues by approximately 5% to 6% in FY2026, but it is viewed as a necessary move given the brand's underperformance [11][12]. - The transaction resulted in a positive market reaction, with VFC shares rising approximately 20% post-announcement, despite the overall value destruction from the acquisition [11][12]. Debt Management - The sale of Supreme is expected to help V.F. Corp. manage its debt, with a projected reduction of net debt by about $1.75 billion by the end of FY2025 [12]. - Management aims to use proceeds from the sale to pay down significant debt maturities, which could improve the company's credit rating outlook [12][13]. - Free cash flow guidance for FY2025 is set at $600 million, allowing for potential repayment of maturing notes [12].

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]