VF Corporation, home to the iconic Vans, The North Face, Timberland, Jansport, and Dickies brands, among many others, saw 2024 fiscal first-quarter revenue slide 8 percent to $2.09 billion from $2.22 billion in the year-ago quarter. Currency-neutral revenues were also down 8 percent for the period.
The net loss expanded to $57.4 million, or a loss of 15 cents per diluted share, in Q1, compared to a loss of $56.0 million, or 14 cents per diluted share, in the prior-year first quarter. The adjusted loss per share was 15 cents loss per share versus adjusted earnings per share of 9 cents in the year-ago quarter.
The company reiterated its full-year EPS guidance range of $2.05 to $2.25 per share but revenue is now expected to be “modestly down to flat” for the year, reflecting ongoing weakness in the wholesale business and a longer-than-anticipated turnaround for Vans.
For full details on the VF Corp. fiscal first quarter, brand details and a deeper dive into the turnaround plans at Vans, including executive commentary from the analyst conference call, go here:
EXEC: Vans’ and Dickies’ Sharp Q1 Declines Offer Rude Welcome for New VF CEO
Photo courtesy Vans/FTSHP, Chart courtesy VF Corp.
