V.F. Corporation - VFC STOCK NEWS

VF (NYSE: VFC) reported its first-quarter fiscal 2025 results, highlighting a quarterly per share dividend of $0.09. Total revenue at $1.9 billion reflected a 9% decline year-over-year (8% in constant dollars). Key brand performance included:

• The North Face down 3%
• Vans down 21%
• Timberland down 10%
• Dickies down 15%
• Other Brands up 8%

Gross margin was 52.0%, down 80 basis points, and the operating margin was -12.6%, down 1,220 basis points. The company reported a loss per share of $(0.67) compared to $(0.15) in Q1'FY24.

Inventory decreased by 24% year-over-year, and net debt reduced by approximately $587 million to $5.3 billion. VF reiterated its FY25 free cash flow guidance of $600 million, excluding the impact of the Supreme divestiture.

A quarterly dividend of $0.09 per share is payable on September 18, 2024, to shareholders who are on record by September 10, 2024.

Fat Tire and Vans have announced a summer collaboration, unveiling edition Vans Checkerboard pattern on Fat Tire beer cans and exclusive merchandise. This collection includes Vans Classic Slip-On Checkerboard Shoes with a custom Fat Tire design, a coordinating hat, socks, and cooler, all available for preorder at DrinkFatTire.com.

The collaboration also features launch events in Denver, CO on July 26 and New York, NY on Aug. 19, with live music, custom merchandise, and a free beer for attendees wearing Vans. Proceeds from the collaboration will benefit Sustainable Coastlines Hawaii, a non-profit dedicated to ocean and beach conservation.

Fat Tire's Brand Manager, Taylor Boyd, emphasizes the shared values of quality and authenticity between the two brands.

VF (NYSE: VFC), a leading active-lifestyle company, has announced the release date for its first quarter fiscal 2025 financial results. The results will be disclosed on Tuesday, August 6th, 2024, at approximately 4:05 p.m. ET, followed by a conference call at 4:30 p.m. ET. Investors and interested parties can access the live broadcast of the conference call on the company's investor relations website at ir.vfc.com. An archived version will also be available for those unable to attend the live event.

VF , founded in 1899, owns popular brands such as Vans®, The North Face®, Timberland®, and Dickies®. The company focuses on connecting people with outdoor, active, workwear, and streetwear experiences, emphasizing sustainability and active lifestyles in its corporate purpose.

Vans, a VF brand (NYSE: VFC), has launched 'Always Pushing', a new global storytelling approach celebrating skateboarding culture and progression. Developed with creative director ALEX/2TONE, the campaign features Vans Skate team riders, legendary skaters, and various artists. It showcases content from cities worldwide, emphasizing the brand's 'Off the Wall' mindset.

The initiative aims to inspire Vans' community to shape the future and push cultural boundaries. It includes special products, events, and experiences, starting with The Bunt Jam in Toronto on July 19-20, 2024. Vans plans to integrate this campaign across fashion, sports, and cinema events, utilizing data-driven strategies to ensure authentic messaging.

Last night, June 21, Vans concluded its week-long Paris event with a grand celebration at Sacré-Coeur, blending skateboarding, art, and music. The 'OTW by Vans Checkered Future' event featured a large-scale skate bowl installation designed with PLAYLAB, INC. and California Skateparks. Vans' global skate team, including athletes like Efron Danzig and Curren Caples, showcased their skills. DJ performances by notable artists like Kaytranada and JUSTICE added to the event's vibrancy.

Earlier in the week, Vans celebrated the launch of the AVE 2.0 and hosted a skate photography exhibition by Atiba Jefferson. These events were attended by notable figures such as Emily Ratajkowski and Bella Poarch. Vans aims to elevate skateboarding culture and blend it with key cultural moments through these events, embodying the spirit of innovation and community.

VF (NYSE: VFC) has announced the appointment of Caroline Brown as Global Brand President of The North Face®, effective the week of June 10, 2024. Brown, who succeeds Nicole Otto, has resigned from the VF Board as a result.

Additionally, Mindy Grossman and Kirk Tanner have been appointed as independent directors on the VF Board, effective May 30, 2024. They will stand for re-election at the 2024 Annual Meeting of VF Shareholders. Benno Dorer will not stand for re-election at this meeting.

Caroline Brown brings extensive experience in the fashion and apparel sector, having held leadership roles at companies like Donna Karan International and Carolina Herrera. Mindy Grossman has a background in digital health and retail, while Kirk Tanner has held significant roles at PepsiCo.

These appointments are part of VF's strategic efforts to bolster brand growth and innovation, aligning with its Reinvent strategy.

VF (NYSE: VFC) has appointed Sun Choe as the Global Brand President of Vans, effective late July. Choe brings nearly 30 years of experience in the apparel industry, having previously worked with brands like lululemon, Marc Jacobs, and Levi's. At lululemon, Choe served as Chief Product Officer, overseeing significant revenue growth and expansion into new product lines. VF 's CEO Bracken Darrell expressed confidence in Choe's ability to drive Vans' growth and enhance shareholder value. Choe is enthusiastic about leveraging Vans' brand identity and customer loyalty to foster long-term consumer relationships.

On May 30, 2024, Vans Global Skateboarder Arisa Trew made history by becoming the first woman to land a 900. This achievement comes after her groundbreaking milestone in 2023 when she became the first woman to land a 720 and win double gold at X Games California 2023. At only 14, Arisa Trew has also earned the 2024 Laureus World Sports Award for Action Sports Person of the Year. Her latest feat follows her previous record as the first woman to land a Switch 540. Vans, a brand under VF (NYSE: VFC), continues to support and inspire the action sports community through its culture-driven initiatives.

VF (NYSE: VFC) announced the appointment of Paul Vogel as Chief Financial Officer, effective July 8, 2024. Vogel will replace Matt Puckett, who is stepping down. Vogel brings extensive experience from his previous role as CFO of Spotify Technology, where he significantly improved the company's financial health, nearly doubling revenue and users while expanding margins and cash flow. VF's CEO, Bracken Darrell, emphasized Vogel's operational and financial expertise, expecting him to drive VF’s return to profitable growth. Vogel expressed excitement about leveraging VF's strong brand portfolio and innovative culture to enhance growth and value creation for shareholders. The company also thanked Matt Puckett for his 23 years of service.