VF Corporation Hosts Investor Day

Rhea-AI Summary

VF (NYSE: VFC) is hosting the second part of its FY25 investor event, 'Reinvent to Grow'. CEO Bracken Darrell highlighted progress on the company's transformation through the Reinvent plan, noting key achievements over the past 18 months:

• Reduced costs
• Lowered net debt
• Improved Americas business performance
• Advanced Vans brand turnaround

The company is implementing 'The VF Way', a standardized process system aimed at empowering brands through enhanced creativity and functional excellence for long-term growth. The event webcast will be available from 10:00 a.m. to 12:30 p.m. ET, with archived presentations accessible at vfc.com/investor-day-2025 until March 16, 2025.

Positive

• Cost reduction initiatives successfully implemented
• Net debt reduction achieved
• Americas business performance improved
• Progress in Vans brand turnaround
• New leadership team with brand expertise in place

Negative

• Ongoing transformation plan indicates continued operational challenges
• Vans brand still requires turnaround efforts

DENVER--(BUSINESS WIRE)-- VF Corporation (NYSE: VFC) today is hosting the second part of its two-part FY25 investor event, Reinvent to Grow.

Bracken Darrell, President and CEO, said: “We continue to make progress on transforming VF through our Reinvent plan. Since I joined VF just over a year and a half ago, we have delivered on our key priorities: reduced costs, lowered net debt, improved the performance of the Americas business, and taken strong steps in the ongoing Vans turnaround. As part of our completely reset leadership team, our new brand presidents are perfectly placed to leverage their rich experience in the areas of product and marketing to grow our brands.

For the next phase of our transformation plan, we are adopting ‘The VF Way’, a series of best-in-class standardized processes which will empower our brands by enhancing creativity and building functional excellence to fuel long-term growth. I am confident these actions will create a multi-brand advantage for VF while enabling further investment to drive sustainable shareholder value creation.”

Webcast Information

The event will be broadcast live on the Internet, accessible at vfc.com/investor-day-2025 beginning at approximately 10:00 a.m. until 12:30 p.m. ET today. An archived version of the broadcast will be available at the same location following the event until March 16, 2025.

Presentation

All presentations will be posted and archived at vfc.com/investor-day-2025 following the conclusion of the event.

About VF

VF Corporation is a portfolio of leading outdoor, active and workwear brands, including The North Face^®, Vans^®, Timberland^® and Dickies^®. VF is committed to providing consumers with innovative products that are rooted in performance and elevated design, while delivering sustainable and long-term value for its employees, communities, and shareholders. For more information, please visit www.vfc.com.

Forward-looking Statements

Certain statements included in this release are "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are made based on VF's expectations and beliefs concerning future events impacting VF and therefore involve several risks and uncertainties. You can identify these statements by the fact that they use words such as “will,” “anticipate,” "believe," “estimate,” “expect,” “should,” and “may” and other words and terms of similar meaning or use of future dates, however, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements regarding VF’s plans, objectives, projections and expectations relating to VF’s operations or financial performance, and assumptions related thereto are forward-looking statements. VF cautions that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. VF undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Potential risks and uncertainties that could cause the actual results of operations or financial condition of VF to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: the level of consumer demand for apparel and footwear; disruption to VF’s distribution system; changes in global economic conditions and the financial strength of VF’s consumers and customers, including as a result of current inflationary pressures; fluctuations in the price, availability and quality of raw materials and finished products; disruption and volatility in the global capital and credit markets; VF’s response to changing fashion trends, evolving consumer preferences and changing patterns of consumer behavior; VF's ability to maintain the image, health and equity of its brands, including through investment in brand building and product innovation; intense competition from online retailers and other direct-to-consumer business risks; increasing pressure on margins; retail industry changes and challenges; VF's ability to execute its Reinvent transformation program and other business priorities, including measures to streamline and right-size its cost base and strengthen the balance sheet while reducing leverage; VF’s ability to successfully establish a global commercial organization, and identify and capture efficiencies in its business model; any inability of VF or third parties on which it relies, to maintain the strength and security of information technology systems; the fact that VF’s facilities and systems, and those of third parties on which we rely, are frequent targets of cyber-attacks of varying levels of severity, and may in the future be vulnerable to such attacks, and any inability or failure by VF or such third parties to anticipate or detect data or information security breaches or other cyber-attacks, including the cyber incident that was reported by VF in December 2023, could result in data or financial loss, reputational harm, business disruption, damage to our relationships with customers, consumers, employees and third parties on which it relies, litigation, regulatory investigations, enforcement actions or other negative impacts; any inability by VF or third parties on which it relies to properly collect, use, manage and secure business, consumer and employee data and comply with privacy and security regulations; VF’s ability to adopt new technologies, including artificial intelligence, in a competitive and responsible manner; foreign currency fluctuations; stability of VF's vendors' manufacturing facilities and VF's ability to establish and maintain effective supply chain capabilities; continued use by VF’s suppliers of ethical business practices; VF’s ability to accurately forecast demand for products; actions of activist and other shareholders; VF's ability to recruit, develop or retain key executive or employee talent or successfully transition executives; continuity of members of VF’s management; changes in the availability and cost of labor; VF’s ability to protect trademarks and other intellectual property rights; possible goodwill and other asset impairment; maintenance by VF’s licensees and distributors of the value of VF’s brands; VF’s ability to execute acquisitions and dispositions, integrate acquisitions and manage its brand portfolio; VF's ability to realize benefits from the completed sale of the Supreme^® brand business; business resiliency in response to natural or man-made economic, public health, cyber, political or environmental disruptions; changes in tax laws and additional tax liabilities; legal, regulatory, political, economic, and geopolitical risks, including those related to the current conflicts in Ukraine and the Middle East and tensions between the U.S. and China; changes to laws and regulations; adverse or unexpected weather conditions, including any potential effects from climate change; VF's indebtedness and its ability to obtain financing on favorable terms, if needed, could prevent VF from fulfilling its financial obligations; VF's ability to pay and declare dividends or repurchase its stock in the future; climate change and increased focus on environmental, social and governance issues; VF's ability to execute on its sustainability strategy and achieve its sustainability-related goals and targets; risks arising from the widespread outbreak of an illness or any other communicable disease, or any other public health crisis; and tax risks associated with the spin-off of the Jeanswear business completed in 2019. More information on potential factors that could affect VF’s financial results is included from time to time in VF’s public reports filed with the SEC, including VF’s Annual Report on Form 10-K, and Quarterly Reports on Form 10-Q, and Forms 8-K filed or furnished with the SEC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250306901771/en/

Investor Contact:

Allegra Perry

ir@vfc.com

Media Contact:

Colin Wheeler

corporate_communications@vfc.com

Source: VF Corporation

FAQ

What are the key achievements of VF 's Reinvent plan in 2024?

VFC's Reinvent plan achieved cost reduction, lower net debt, improved Americas business performance, and progress in Vans brand turnaround.

What is 'The VF Way' initiative announced at VFC's FY25 investor event?

The VF Way is a new series of standardized processes designed to empower brands through enhanced creativity and functional excellence for long-term growth.

How long will VF 's FY25 investor day presentations be available online?

The presentations will be archived and accessible at vfc.com/investor-day-2025 until March 16, 2025.

What is VF 's strategy for brand growth under the Reinvent plan?

VFC is focusing on standardized processes, enhanced creativity, and functional excellence while leveraging new brand presidents' experience in product and marketing.