Welcome to our dedicated page for V.F. Corporation news (Ticker: VFC), a resource for investors and traders seeking the latest updates and insights on V.F. Corporation stock.
V.F. Corporation (NYSE: VFC) is a global leader in the apparel, footwear, and accessories industry, outfitting consumers worldwide with its diverse portfolio of iconic lifestyle brands. Founded in 1899, VF Corporation has grown to become one of the largest companies in its sector, renowned for its socially and environmentally responsible operations.
VF's brand portfolio includes well-known names such as Vans®, The North Face®, Timberland®, Wrangler®, and Lee®. These brands cater to a variety of consumer needs, from active and outdoor apparel to workwear. VF Corporation designs, produces, and distributes these brands across the Americas, Europe, and the Asia-Pacific region through multiple channels, including wholesale sales to retailers, e-commerce platforms, and a network of branded stores owned by both the company and partners.
Recent achievements highlight VF's innovative spirit and commitment to excellence. For instance, Vans global skateboarder Arisa Trew made history in 2023 by becoming the first woman to land a 720 on a skateboard and later, a Switch 540. She clinched the Women's Skateboard Vert gold at X Games California 2023 and subsequently became the youngest X Games double gold medalist at 13. Her relentless pursuit of progression in skateboarding continues to inspire future generations.
VF Corporation is committed to delivering long-term value to its customers and shareholders. This commitment is reflected in its ongoing projects and partnerships, aimed at enhancing product innovation and sustainability. The company’s robust financial condition further supports its goals of growth and expansion.
For the latest updates and detailed information about VF Corporation, visit their official website at www.vfc.com.
On February 28, 2023, Vans announced a collaboration with Haribo, the renowned gummi candy brand, to launch the Vans x Haribo collection. This vibrant range includes footwear, apparel, and accessories inspired by Haribo's Goldbears, targeting both children and adults. Available from April 6, 2023, the collection features designs like Classic Slip-Ons and hoodies reflecting the joyous spirit of both brands. The collection promotes creative self-expression while reinforcing Vans' commitment to fun and exploration. The partnership celebrates Haribo's 100th anniversary, highlighting the unification of both brands' fandoms.
VF Corporation (NYSE: VFC) has announced the pricing of €500 million of unsecured senior notes, divided into two series: €500 million due in 2026 with a 4.125% coupon and €500 million due in 2029 with a 4.250% coupon. The offering, underwritten by major banks including J.P. Morgan and Goldman Sachs, is expected to close on March 7, 2023. The proceeds will fund general corporate purposes and support projects aligned with Sustainable Development Goals, such as investments in sustainable materials, renewable energy, and zero-waste initiatives. Annual updates on the use of proceeds will be published on the company's sustainability website.
VF Corporation (NYSE: VFC) reported Q3'FY23 results with revenue of $3.5 billion, a 3% decline, though up 3% in constant dollars. EPS decreased by 1% to $1.31, with adjusted EPS down 17% to $1.12. The company declared a quarterly dividend of $0.30, marking a 41% reduction from the previous quarter. The North Face® brand saw a 7% revenue increase, while Vans® decreased by 13%. VF aims for a 3% revenue growth for FY23. Actions include reducing the dividend, optimizing the portfolio, and enhancing operational performance. The company expects adjusted EPS between $2.05 and $2.15 for FY23.
VF Corporation (NYSE: VFC) is set to announce its third quarter fiscal 2023 financial results on February 7, 2023, at approximately 4:05 p.m. ET. Following the release, management will conduct a conference call at 4:30 p.m. ET to discuss the results. The call will be accessible live via the company's investor relations website, with an archived version available later. VF Corporation, established in 1899, is a leading global active-lifestyle company, known for its portfolio of renowned brands including Vans, The North Face, Timberland, and Dickies. Visit vfc.com for more details.
VF Corporation (NYSE: VFC) has appointed Benno Dorer as the Interim President and CEO following Steve Rendle's retirement. Dorer aims to lead the company amidst challenges including weaker consumer demand and an elevated promotional environment, especially in North America. The FY23 revenue growth outlook has been revised down to 3-4% from the previous 5-6%, with adjusted diluted EPS expected between $2.00 and $2.20, significantly lower than last year's $3.18.
The Board is actively searching for a permanent CEO.
Vans is set to host the Vans Pipe Masters from December 8-20, 2022, on the North Shore of Oahu. The event will feature 60 elite male and female surfers, half of whom are from Hawaii, competing for a total prize purse of $420k. Vans emphasizes community engagement with equal prize distribution and focuses on sustainability through partnerships with local organizations. Additionally, Vans will highlight female surfers' stories during the contest. This event aims to inspire future generations of surfers while celebrating the legacy of the iconic Pipeline.
VF Corporation (NYSE: VFC) reported Q2'FY23 results, revealing a revenue decline of 4% to $3.1 billion, despite a 2% increase in constant dollars. The North Face® saw an 8% revenue rise, while Vans® revenue dropped 13%. Gross margin decreased to 51.4%, and EPS was $(0.31), down 126% from the prior year. For FY23, revenue outlook remains at a 5%-6% growth in constant dollars, but adjusted EPS guidance was reduced to $2.40-$2.50. The company also highlighted a significant 88% increase in inventories driven by in-transit stock adjustments.
VF Corporation (NYSE: VFC) will announce its second quarter fiscal 2023 financial results on October 26, 2022, at approximately 4:05 p.m. ET. A conference call to discuss these results will follow at 4:30 p.m. ET, with a live broadcast available online. VF Corporation is a leading active-lifestyle company known for popular brands such as Vans, The North Face, Timberland, and Dickies. The company aims to promote sustainable and active lifestyles while creating value for stakeholders.
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