V.F. Corporation reports developments for a branded apparel, footwear and accessories portfolio centered on outdoor, active and workwear categories. Its brands include The North Face, Vans and Timberland, and its products are sold through wholesale channels, e-commerce and branded retail stores operated by the company and partners.
Recurring VFC news includes fiscal earnings releases, conference-call schedules, investor conference appearances, board dividend actions, brand-portfolio updates and supply-chain initiatives. Company announcements also cover retail technology and inventory-visibility programs tied to product availability, omnichannel operations and brand protection across its global store and distribution network.
Summary not available.
Summary not available.
On February 28, 2023, Vans announced a collaboration with Haribo, the renowned gummi candy brand, to launch the Vans x Haribo collection. This vibrant range includes footwear, apparel, and accessories inspired by Haribo's Goldbears, targeting both children and adults. Available from April 6, 2023, the collection features designs like Classic Slip-Ons and hoodies reflecting the joyous spirit of both brands. The collection promotes creative self-expression while reinforcing Vans' commitment to fun and exploration. The partnership celebrates Haribo's 100th anniversary, highlighting the unification of both brands' fandoms.
VF Corporation (NYSE: VFC) has announced the pricing of €500 million of unsecured senior notes, divided into two series: €500 million due in 2026 with a 4.125% coupon and €500 million due in 2029 with a 4.250% coupon. The offering, underwritten by major banks including J.P. Morgan and Goldman Sachs, is expected to close on March 7, 2023. The proceeds will fund general corporate purposes and support projects aligned with Sustainable Development Goals, such as investments in sustainable materials, renewable energy, and zero-waste initiatives. Annual updates on the use of proceeds will be published on the company's sustainability website.
VF Corporation (NYSE: VFC) reported Q3'FY23 results with revenue of $3.5 billion, a 3% decline, though up 3% in constant dollars. EPS decreased by 1% to $1.31, with adjusted EPS down 17% to $1.12. The company declared a quarterly dividend of $0.30, marking a 41% reduction from the previous quarter. The North Face® brand saw a 7% revenue increase, while Vans® decreased by 13%. VF aims for a 3% revenue growth for FY23. Actions include reducing the dividend, optimizing the portfolio, and enhancing operational performance. The company expects adjusted EPS between $2.05 and $2.15 for FY23.
VF Corporation (NYSE: VFC) is set to announce its third quarter fiscal 2023 financial results on February 7, 2023, at approximately 4:05 p.m. ET. Following the release, management will conduct a conference call at 4:30 p.m. ET to discuss the results. The call will be accessible live via the company's investor relations website, with an archived version available later. VF Corporation, established in 1899, is a leading global active-lifestyle company, known for its portfolio of renowned brands including Vans, The North Face, Timberland, and Dickies. Visit vfc.com for more details.
VF Corporation (NYSE: VFC) has appointed Benno Dorer as the Interim President and CEO following Steve Rendle's retirement. Dorer aims to lead the company amidst challenges including weaker consumer demand and an elevated promotional environment, especially in North America. The FY23 revenue growth outlook has been revised down to 3-4% from the previous 5-6%, with adjusted diluted EPS expected between $2.00 and $2.20, significantly lower than last year's $3.18.
The Board is actively searching for a permanent CEO.
Vans is set to host the Vans Pipe Masters from December 8-20, 2022, on the North Shore of Oahu. The event will feature 60 elite male and female surfers, half of whom are from Hawaii, competing for a total prize purse of $420k. Vans emphasizes community engagement with equal prize distribution and focuses on sustainability through partnerships with local organizations. Additionally, Vans will highlight female surfers' stories during the contest. This event aims to inspire future generations of surfers while celebrating the legacy of the iconic Pipeline.
Summary not available.
VF Corporation (NYSE: VFC) reported Q2'FY23 results, revealing a revenue decline of 4% to $3.1 billion, despite a 2% increase in constant dollars. The North Face® saw an 8% revenue rise, while Vans® revenue dropped 13%. Gross margin decreased to 51.4%, and EPS was $(0.31), down 126% from the prior year. For FY23, revenue outlook remains at a 5%-6% growth in constant dollars, but adjusted EPS guidance was reduced to $2.40-$2.50. The company also highlighted a significant 88% increase in inventories driven by in-transit stock adjustments.