VF Corp Shares Tumble 7.5% After-Market as Revenue Misses Estimates
$VF Corp(VFC.US$ shares tumbled 7.5% in after-market trading Wednesday as the company reported fiscal fourth quarter revenue that missed analysts' estimates.
The company behind brands including Timberland, Dickies and The North Face said revenue in the three months that ended in March fell 13% to $2.37 billion. Analysts' estimates compiled by Bloomberg called for $2.41 billion.
Outdoor revenue slipped 8% to $1.22 billion, missing analysts' estimates of $1.23 billion. Active revenue slumped 19% to $914 million, exceeding the average estimate of $910.6 million.
The company expects $600 million in free cash flow, plus the benefit of non-core asset sales in fiscal year 2025. For the fourth quarter, it posted a loss of $108 a share, worse than the 55 cent-loss posted in the same period a year earlier.
"As we move into fiscal year 2025, we will continue to execute our broader turnaround plans, including driving continued momentum on our key priorities, namely fixing the Americas, turning around Vans®, reducing costs and paying down debt, while progressing on the actions resulting from our strategic portfolio review," CEO Bracken Darrell said in the company's press release Wednesday.
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Former editor at Bloomberg, then Lazard Asset Management. Posts aren’t investment advice. Views are just mine.
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