UPDATE 2-VF shares dive despite strong results, jeans called 'pain point' [Reuters]
V.F. Corporation (VFC)
Last v.f. corporation earnings: 1/23 06:55 am
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Source: Reuters
VF shares dive despite strong results, jeans called 'pain point' | Reuters 3 Min Read NEW YORK (Reuters) - VF Corp ( VFC.N ) shares slid 4.5 percent on Friday as profits narrowly beat estimates and revenues blew past forecasts, and some investors worried that major VF jeans wear customer Walmart Inc ( WMT.N ) was turning more toward private labels. Quarterly profits excluding items for VF edged past Wall Street estimates. Revenues got a boost from a booming Vans shoes business, demand for North Face apparel and higher online sales. KeyBanc Capital Markets’ managing director Ed Yruma applauded VF’s strong Vans business, which grew 45 percent, but noted their jeans wear business is struggling. “I know one of the primary culprits there has been Walmart,” Yruma said. “They’ve leaned more into private label, so that’s been kind of a chronic pain point for them.” VF has ramped up efforts in reshaping its portfolio and elevating its most powerful brands. VF Chief Executive Officer Steve
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VFC
News
- Calculating The Fair Value Of V.F. Corporation (NYSE:VFC) [Yahoo! Finance]Yahoo! Finance
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- The North Face and icebreaker Introduce Capsule Collection Inspired by Nature [Yahoo! Finance]Yahoo! Finance
- Your Privacy [Forbes]Forbes
VFC
Earnings
- 2/6/24 - Miss
VFC
Sec Filings
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- VFC's page on the SEC website