These Analysts Boost Their Forecasts On VF Corp
Portfolio Pulse from Avi Kapoor
V.F. Corporation (NYSE:VFC) announced the sale of its Supreme brand to EssilorLuxottica for $1.5 billion in cash. The sale is expected to be dilutive to VF's earnings per share in the 2025 fiscal year. Supreme contributed $538 million in revenue and $166 million in operating income during VF's 2024 fiscal year. Analysts have adjusted their price targets for VF following the announcement.
July 18, 2024 | 12:47 pm
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V.F. Corporation announced the sale of its Supreme brand to EssilorLuxottica for $1.5 billion in cash. The sale is expected to be dilutive to VF's earnings per share in the 2025 fiscal year. Analysts have adjusted their price targets for VF following the announcement.
The sale of Supreme is a significant move for VF Corp, expected to impact its earnings per share negatively in the 2025 fiscal year. However, the market reacted positively with a 13.6% increase in share price, and analysts have adjusted their price targets upwards, indicating a positive short-term outlook.
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