VF Corp Q3 2024 Earnings Report

VF Corp's financial performance was marked by disappointing top-line results, with revenue declining and a net loss reported, though strategic actions led to stronger cash flow and expanded gross margin.

Key Takeaways

VF Corporation reported disappointing Q3 FY24 results, with revenue down 16% to $3.0 billion and a loss per share of $(0.11). However, strategic actions under the Reinvent transformation program led to stronger cash flow and expanded gross margin. The company is also undertaking a strategic review of its brand portfolio to enhance long-term value.

Revenue decreased by 16% to $3.0 billion, impacted by wholesale delivery timing.

Loss per share was $(0.11), with adjusted EPS at $0.57.

Inventories decreased by 17% compared to the previous year.

Reaffirmed FY24 free cash flow guidance of approximately $600 million.

Total Revenue

$2.96B

Previous year: $3.53B