V.F. Corporation Says The Following Factors Are Now Assumed To Significantly Impact Revenue And Profit Negatively In 2H'fY24; Vans' Performance Is Not Anticipated To Improve; A More Difficult U.S. Wholesale Environment

V.F. Corporation -3.00% Pre

V.F. Corporation

VFC

15.50

15.50

-3.00%

0.00% Pre

FY24 Outlook

  • The company withdraws its previous FY24 revenue and earnings guidance and updates its free cash flow projection:
    • Free cash flow for FY24 is expected to be approximately $600 million compared to the previous guidance of approximately $900 million
  • The following factors are now assumed to significantly impact revenue and profit negatively in 2H'FY24
    • Vans' performance is not anticipated to improve in 2H'FY24
    • A more difficult US wholesale environment
  • Reinvent will likely result in charges including cash and non-cash items
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