Vans, The North Face Parent V.F. Corporation Shares Drop After Worse-Than-Expected Q4 Results
Portfolio Pulse from Erica Kollmann
V.F. Corporation (NYSE: VFC) shares dropped after reporting worse-than-expected Q4 results, with a quarterly loss of 32 cents per share and sales of $2.4 billion, both missing analyst estimates. The company appointed Paul Vogel as CFO and highlighted progress in its Reinvent transformation program. VFC shares fell 7.95% after-hours.
May 22, 2024 | 8:43 pm
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V.F. Corporation reported a quarterly loss of 32 cents per share and sales of $2.4 billion, both missing analyst estimates. The company appointed a new CFO and highlighted progress in its transformation program. Shares fell 7.95% after-hours.
The worse-than-expected financial results, including a significant quarterly loss and a drop in sales, directly impacted VFC's stock price negatively. The appointment of a new CFO and progress in the transformation program were not enough to offset the negative sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100