V.F. Corporation Says The Following Factors Are Now Assumed To Significantly Impact Revenue And Profit Negatively In 2H'fY24; Vans' Performance Is Not Anticipated To Improve; A More Difficult U.S. Wholesale Environment
Portfolio Pulse from Benzinga Newsdesk
V.F. Corporation has withdrawn its previous FY24 revenue and earnings guidance, expecting a significant negative impact on revenue and profit in 2H'FY24. Factors include poor performance of Vans and a challenging US wholesale environment. The company now projects its free cash flow for FY24 to be around $600 million, down from the previous guidance of $900 million.
October 30, 2023 | 8:10 pm
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NEGATIVE IMPACT
V.F. Corporation's revised FY24 outlook, with lower free cash flow projections and anticipated negative impacts on revenue and profit, could potentially lead to a short-term decrease in its stock price.
V.F. Corporation's revised FY24 outlook indicates a challenging future, with lower free cash flow projections and anticipated negative impacts on revenue and profit due to poor Vans performance and a tough US wholesale environment. This could potentially lead to a decrease in investor confidence and a short-term decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100