V.F. Corporation Sees Free Cash Flow For FY24 Is Expected To Be ~$600M Compared To The Previous Guidance Of ~$900M
Portfolio Pulse from Benzinga Newsdesk
V.F. Corporation has revised its FY24 free cash flow projection from $900 million to $600 million. The company has withdrawn its previous FY24 revenue and earnings guidance due to anticipated negative impacts on revenue and profit in 2H'FY24. Factors include poor performance of Vans and a challenging US wholesale environment. The company's transformation plan, Reinvent, aims to lower the cost structure by $300 million, focusing on cash generation and debt reduction.
October 30, 2023 | 8:08 pm
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V.F. Corporation's revised FY24 free cash flow projection and withdrawal of previous revenue and earnings guidance could negatively impact investor sentiment. The company's Reinvent plan aims to mitigate these challenges by reducing costs.
The company's revised FY24 free cash flow projection and withdrawal of previous revenue and earnings guidance indicate potential financial challenges. This could negatively impact investor sentiment and potentially lead to a decrease in the company's stock price in the short term. The company's Reinvent plan, which aims to reduce costs, could mitigate these challenges to some extent.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100