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Jun 27, 2020
VF Corp Q1 2021 Earnings Report
VF Corporation reported a significant decrease in revenue and earnings per share due to COVID-19 impacts.
Key Takeaways
VF Corporation's revenue decreased by 48% to $1.1 billion due to store closures and lower consumer demand caused by the COVID-19 pandemic. The company reported a loss per share of $(0.71) and an adjusted loss per share of $(0.57).
Revenue decreased 48% due to COVID-19 impacts.
Loss per share was $(0.71), and adjusted loss per share was $(0.57).
Digital revenue increased 78%.
VF ended the quarter with approximately $2.8 billion of cash and short-term investments.
VF Corp
VF Corp
VF Corp Revenue by Segment
Revenue by Segment
Outdoor segment Revenue
CapyFin.comActive segment Revenue
CapyFin.com Forward Guidance
Due to the uncertainty of the duration and severity of COVID-19, governmental actions and regulations in response to the pandemic, it is not possible to provide a financial outlook for full-year fiscal 2021 at this time. However, second quarter fiscal 2021 revenues are expected to be down less than 25% and full-year fiscal 2021 free cash flow is still expected to exceed $600 million.
Positive Outlook
- Second quarter fiscal 2021 revenues are expected to be down less than 25%.
- Full-year fiscal 2021 free cash flow is still expected to exceed $600 million.
Challenges Ahead
- Uncertainty of the duration and severity of COVID-19.
- Governmental actions and regulations in response to the pandemic.
- Speed with which the pandemic is developing and impacting VF.
- Impact on consumers.
- Impact on customers and suppliers.
Revenue & Expenses
Visualization of income flow from segment revenue to net income