VF Corp (NYSE:VFC)

$ 21.38 -0.1 (-0.47%) Market Cap: 8.32 Bil Enterprise Value: 15.25 Bil PE Ratio: 0 PB Ratio: 5.92 GF Score: 69/100

Q4 2024 VF Corp Earnings Call Transcript

May 22, 2024 / 08:30 PM GMT

Release Date Price: $12.33 (-1.04%)

Transcript 10-K8-K

Key Points

Positve

VF Corp (VFC) is on track to deliver $300 million in cost savings by mid-fiscal year 2025.
The company has significantly reduced its inventory by 23%, amounting to over $500 million.
VF Corp (VFC) generated over $1 billion in operating cash flow and more than $800 million in free cash flow, exceeding previous guidance.
The North Face brand showed strong performance in the APAC region, growing 15%, with Greater China up almost 30%.
Supreme delivered another strong quarter with sales up low double digits, reflecting a good start to the spring season.

Negative

Overall revenue for VF Corp (VFC) was down 13% in Q4, largely driven by U.S. wholesale performance.
Vans revenue declined 27% in the quarter, reflecting the impact of inventory reset actions.
The North Face experienced ongoing wholesale weakness in the U.S., particularly in winter apparel products.
Timberland was down 14%, with significant pressure in the Americas wholesale channel due to reduced order books and soft sell-out trends.
Adjusted gross margin declined 120 basis points in the quarter to 48.4%, impacted by elevated promotion and clearance activity.

Refinitiv StreetEvents Event Transcript
P R E L I M I N A R Y V E R S I O N

VFC.N - VF Corp
Q4 2024 VF Corp Earnings Call
May 22, 2024 / 08:30PM GMT

=====================
Conference Call Participants
=====================
* Allegra Perry - Head of IR
* Bracken Darrell - CEO
* Martino Guerrini - Senior Key Executive
* Matthew Puckett - CFO
* Michael Binetti - Evercore Inc.
* Laurent Vasilescu - BNP Paribas Exane, Research Division
* Simeon Siegel - BMO Capital Markets Equity Research
* Brooke Roach - Goldman Sachs Group, Inc., Research Division
* Matthew Boss - JPMorgan Chase & Co, Research Division
* Dana Telsey - Telsey Advisory Group LLC
* Lorraine Corrine Hutchinson - BofA Securities, Research Division
* Robert Drbul - Guggenheim Securities, LLC, Research Division
* Paul Lejuez - Citigroup Inc., Research Division
* Adrienne Yih-Tennant - Barclays Bank PLC, Research Division
* Jonathan Komp - Robert W. Baird & Co. Incorporated, Research Division
* Irwin Boruchow - Wells Fargo Securities,

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