VFC delivered revenue and profit in line with guidance for the fiscal fourth quarter and grew full-year revenue 3 percent in constant-currency terms in fiscal 2024, with 10 out of the company's 12 global brands flat or growing revenue for the year - and five of those brands delivering double-digit growth. (Read More)
VF Corp. reported sales were down 3 percent in the fiscal fourth quarter ended April 1, dragged down by a 14 percent decline at Vans and a 7 percent overall decline in the Americas region. The North Face’s sales grew 12 percent globally. Earnings were down 62 percent on an adjusted basis but in line with guidance. (Read More)
Goldman Sachs upgraded its stock rating on VF Corp. to “Buy” from “Sell” as the investment firm believes strategic actions, including overhauling Vans’ management team, have improved VF’s outlook for profitability. (Read More)
VF Corp. announced key leadership appointments at its Dickies, Altra, Smartwool, and Icebreaker brands, effective immediately. (Read More)
VF Corporation has closed on a €500 million green bond offering, representing its second green bond issued. The inaugural green bond was issued in 2020. (Read More)
On the heels of a Moody’s Investors Service downgrade in the debt ratings of VF Corporation, the active lifestyle company has priced €500 million aggregate principal amount of unsecured senior notes due 2026 (Read More)
Moody's Investors Service downgraded the debt ratings of VF Corp. due to the company's currently high leverage resulting from underperformance in its largest and most profitable brand, Vans, as well as large customer inventory destocking at Dickies, a slower-than-expected recovery in China, and elevated inventory levels that are leading to higher promotional sales activity and reduced margins. (Read More)
VF Corp. management confirmed on a Tuesday conference call with analysts that the company began a review of strategic alternatives for its global packs business. SGB Media previously reported speculation regarding the divestment of the Jansport brand this past December. (Read More)
Vans brand revenue fell 13 percent (-9 percent in constant dollars) to $927 million in the fiscal third quarter ended December 31, reflecting positive performances in Europe and Asia outside of Greater China, while the Americas remained problematic. (Read More)
VF Corporation posted a 3 percent decline in revenues in the fiscal third quarter ended December 31, with currency fluctuations impacting results by six percentage points to the negative. The "big four brands" were down 3 percent, or up 2 percent in constant dollars, and the balance of the portfolio was down 2 percent, or up 5 percent in constant dollars. (Read More)
VF Corp. opened its Tokyo Design Collective (TDC) and a regional office in Tokyo's Harajuku district—the new home for VF's Dickies, Timberland and Vans brands—and where the TDC team will work. (Read More)
Baird lowered its stock ratings on Canada Goose, Peloton and VF Corp. as the investment firm noted concerns that an earnings recovery could take longer than investors have signaled. (Read More)
Williams Trading lowered its stock rating on VF Corp. to "Sell" due partly to unexpected weakening at The North Face. Lead analyst Sam Poser also reiterated his "Buy" rating and raised his price targets on Deckers Outdoor and Skechers USA. (Read More)
VF Corp. added new hires to its leadership team in Europe, the Middle East and Africa (EMEA). (Read More)
Bloomberg reported Friday that VF Corp. is considering a sale of its Jansport backpack business, according to people with knowledge of the matter. (Read More)
Shares of VF Corp. fell about 11 percent on Monday following the news of Steve Rendle's retirement as CEO. His exit was a surprise but not a shock to Wall Street analysts, given VF's underperformance, led by Vans, in recent years. More worrisome was VF's third guidance reduction in the last three months. (Read More)
VF Corp. reported Chairman, President and CEO Steve Rendle is retiring. Benno Dorer, a lead independent director of the VF Board, was named interim president and CEO, effective immediately. VF also again lowered its revenue and earnings expectations for the second half of its fiscal year. (Read More)
S&P Global Ratings lowered its debt ratings on VF Corp. as the company's credit metrics are expected to remain pressured with leverage above 3x in fiscal 2023 due to elevated debt levels. The downgrade follows a similar move by Moody's in mid-October. (Read More)
VF Corp. reported second-quarter results that were generally in line with Wall Street targets but reduced its full-year outlook for the second time in a month. Momentum at The North Face is being offset by underperformance by Vans as well as an overall consumer pullback amid a heightened promotional climate in North America. (Read More)
VF Corp. reported results in its fiscal second quarter ending October 1 that came in line with Wall Street targets but lowered its EPS guidance for the full year due to foreign currency fluctuations as well as heightened inventory levels and promotional activity in the marketplace. (Read More)