Key PointsVF Corp is an outdoor apparel and footwear maker operating iconic brands, including The North Face, Vans, Timberland and Dickies.VF Corp reported a weak fiscal Q4 2024 EPS miss of 32 cents on a 13.4% revenue drop, marking its eighth quarter of YoY revenue declines.CEO Darren Bracken was responsible for turning around Old Spice and Logitech and is currently implementing the ‘Reinvent’ turnaround strategy at VF Corp.5 stocks we like better than V.F.Outdoor apparel and footwear manufacturer VF Corp. ...

Have you evaluated the performance of V.F.'s (VFC) international operations for the quarter ending March 2024? Given the extensive global presence of this maker of brands such as Vans, North Face and Timberland, analyzing the patterns in international revenues is crucial for understanding its financial strength and potential for growth.In today's increasingly interconnected global economy, a company's ability to tap into international markets can be a pivotal factor in shaping its overall financial health a ...

文章核心观点 - VF公司第四季度业绩表现不佳,主要受到需求疲软和库存过多的影响 [1] - VF公司旗下北面、Vans等品牌销售均出现下滑 [2] - VF公司毛利率下降,受到"重置行动"和持续促销的拖累 [2] - VF公司任命前Spotify财务总监Paul Vogel担任新任首席财务官 [3] - VF公司股价在发布财报后大幅下跌,跌至15年来最低水平 [1][3] 品牌销售情况 - 北面销售下降5%至8.143亿美元,主要受美国批发渠道疲软影响 [2] - Vans销售暴跌26%至6.312亿美元,与上一季度一致,包括为了调整库存而采取的措施 [2] - Timberland和Dickies销售分别下降14%和15% [2] 财务表现 - 公司第四季度调整后每股亏损0.32美元,而分析师此前预期有小幅盈利 [1] - 公司第四季度收入下滑13%至23.7亿美元,低于预期 [1] - 公司毛利率下降120个基点至48.4%,受"重置行动"和持续促销的拖累 [2]

The apparel company disappointed again in its quarterly earnings report.Shares of VF Corp (VFC -3.49%) were heading lower today as the struggling apparel company posted yet another disappointing earnings report in its fiscal fourth quarter.As of 1:05 p.m. ET on Thursday, the stock was down 3.5% after trading as low as 11% earlier in the session. VF's troubles continueOverall revenue fell 13% in the quarter to $2.4 billion, continuing a pattern of falling sales at core brands like Vans and The North Face. Th ...

总收入及利润 - VF公司在2024财年的总收入为105.47亿美元，较2023财年下降10%[196] - 2024财年亚太地区的收入增长3%，占总收入的54%[194] - 直接消费者收入占2024财年总收入的47%[195] - 2024财年毛利率为52.0%，较2023财年下降50个基点[197] - VF公司在2024财年录得净税费支出为7.04亿美元，主要与Timberland税务案件有关[200] - 在2024财年，VF公司的净收入为负968.9亿美元，每股稀释亏损为2.49美元，与2023财年的118.6亿美元，每股稀释盈利0.31美元相比[201] 各部门表现 - VF公司的报告部门包括Outdoor、Active和Work，另外还有一个Other类别用于调和收入和利润，但不被视为报告部门[204] - 在2024财年，Outdoor部门的运营利润率从2.8%下降至-0.3%，主要是由于上述因素导致的[203] - 2024财年，Outdoor部门的收入为5501.4万美元，较2023财年的5647.5万美元下降2.6%；利润为602.7万美元，较2023财年的785.4万美元下降23.3%[207] - The North Face®品牌在2024财年全球收入增长2%，包括1%的有利外汇影响[215] - Active部门在2024财年的全球收入下降17%，包括1%的有利外汇影响[217] - Work部门在2024财年的全球收入下降15.9%[222] 财务状况及现金流 - 2024年3月末的工作资本为770.0百万美元，较2023年3月末下降了836.9百万美元[237] - 2024财年经营活动提供的现金为1014.6百万美元，较2023财年净现金流出655.8百万美元[238] - 2024财年投资活动使用的现金为172.3百万美元，较2023财年188.1百万美元[239] - 2024财年融资活动提供的现金为959.6百万美元，较2023财年463.9百万美元[239] 债务及风险 - VF的长期债务总额为57.41亿美元，2025年到期的长期债务为10.01亿美元[253] - VF的未记录承诺中，库存义务为24.21亿美元，2025年到期的库存义务为23.44亿美元[253] - VF的利息支付义务为9.28亿美元，2025年到期的利息支付义务为1.83亿美元[255] - VF的外汇风险主要来自于54%的营收来自国际市场[265] 税务及合规 - VF在100多个美国和外国司法管辖区提交所得税申报表[298] - VF根据比利时超额利润税制降低了应纳税收入税率[300] - VF因美国税务法规纠纷支付了8.757亿美元的税款和利息[301] - VF根据最近颁布和采纳的会计准则进行了相关税务资产和负债的调整[302] 公司治理 - VF对其“披露控制和程序”进行了有效性评估，认为其在2024年3月30日有效[307] - VF在最近的财务季度内，内部财务报告控制没有发生重大变化[308] - 在2024年3月30日结束的三个月内，VF没有任何董事或高管采取或终止“Rule 10b5-1交易安排”[309] - VF已经采纳了适用于所有董事、高管和员工的道德准则“VF公司商业行为准则”[311] - VF的董事会治理原则、审计委员会、治理和企业责任委员会、人才和薪酬委员会和财务委员会的信息可在VF的网站上找到[312]

V.F. Corporation (VFC) reported fourth-quarter fiscal 2024 results, wherein the top and bottom lines missed the Zacks Consensus Estimate. Both metrics also declined year over year. The quarterly results were hurt by the ongoing softness in the U.S. wholesale business.V.F. Corp reported an adjusted loss per share of 32 cents against earnings per share of 17 cents in the prior-year quarter. The bottom line also compared unfavorably with the Zacks Consensus Estimate of earnings of 1 cent.Net revenues of $2.37 ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...

财务数据和关键指标变化 - 2024财年全年收入下降11%,调整后每股收益为0.74美元 [52][53] - 第四季度收入下降13%,调整后毛利率下降120个基点至48.4% [60][73] - 全年经营现金流超过10亿美元,自由现金流超过8亿美元,超出之前指引 [58] - 全年净债务减少5.4亿美元至53亿美元 [58] 各条业务线数据和关键指标变化 - The North Face第四季度收入下降5%,但直营渠道增长7% [65][66] - Vans第四季度收入下降27%,包括4个百分点的库存重置影响 [67][68] - Timberland第四季度收入下降14%,包括6个百分点的库存重置影响 [69][70] - Dickies第四季度收入下降15% [71] - Supreme第四季度收入小幅增长 [163] 各个市场数据和关键指标变化 - 美洲地区第四季度收入下降23%,国际业务下降4% [62][63] - 欧洲地区第四季度收入下降5%,亚太地区增长2% [63][64] 公司战略和发展方向及行业竞争 - 公司启动"重塑"计划,包括重置、点燃和加速三个阶段 [11] - 正在大幅调整管理团队,引进多名业内顶尖人才 [12][13][14] - 正在优化成本结构,预计2025财年中期前实现3亿美元成本节省 [15][79] - 正在重塑Vans品牌,包括简化产品线、提升设计创新和营销 [18][19][20][21][22][23][24][25] - 正在提升The North Face品牌,聚焦产品创新、女性和鞋履等增长领域 [27][28] - 正在优化零售网络,预计2年内关闭约115家Vans门店 [150][151] 管理层对经营环境和未来前景的评论 - 管理层对公司未来前景表示乐观,预计每个季度业绩都会有所改善,除第一季度外 [29] - 管理层认为公司已经采取了必要的重置措施,正在执行转型计划,有信心公司将重返强劲、可持续增长 [30][205] 问答环节重要的提问和回答 问题1 **Michael Bennett 提问** 询问Vans欧洲直营业务转正的原因,以及是否意味着批发渠道也将改善 [90][91] **Martino Scabbia Guerrini 回答** 直营渠道改善主要得益于聚焦和执行力,同时批发渠道也有望改善,因为品牌在当地市场的认知度和吸引力提升 [92][93][94] 问题2 **Simeon Siegel 提问** 询问The North Face业务下滑与Vans有何不同 [114][115][116] **Bracken Darrell 和 Matt Puckett 回答** The North Face业务下滑主要源于过去在美洲地区的执行不力,但产品和市场反馈良好,未来有望改善。同时,The North Face的产品线更加广泛,不像Vans过度依赖核心款 [117][118][119][120] 问题3 **Brooke Roach 提问** 询问公司完成库存和渠道清理的时间节点,以及对毛利率的影响 [124][125][126][127][128][129] **Matt Puckett 回答** 大部分库存和渠道清理将在第一季度完成,第一季度毛利率同比仍有下降,但之后应该会逐步改善,受益于产品成本下降、汇率影响减弱等因素 [126][127][128][129]

For the quarter ended March 2024, V.F. (VFC) reported revenue of $2.37 billion, down 13.4% over the same period last year. EPS came in at -$0.32, compared to $0.17 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $2.4 billion, representing a surprise of -1.26%. The company delivered an EPS surprise of -3300.00%, with the consensus EPS estimate being $0.01.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expec ...

V.F. (VFC) came out with a quarterly loss of $0.32 per share versus the Zacks Consensus Estimate of $0.01. This compares to earnings of $0.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -3,300%. A quarter ago, it was expected that this maker of brands such as Vans, North Face and Timberland would post earnings of $0.79 per share when it actually produced earnings of $0.57, delivering a surprise of -27.85%.Over the last fou ...