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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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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