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Dec 30, 2023
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.
VF Corp
VF Corp
Forward Guidance
VF Corporation reaffirmed its free cash flow guidance for FY24 of approximately $600 million.