V.F. CORPORATION Reports Positive Earnings Results for First Quarter of FY2024
August 14, 2023
☀️Earnings Overview
On August 1 2023, V.F. CORPORATION ($NYSE:VFC) reported their first quarter FY2024 earnings results, up to June 30 2023. The total revenue for the quarter was USD 2086.3 million, a 7.7% decrease from the same period in the prior year. Net income for the quarter decreased to -57.4 million, compared to -56.0 million in the previous year.
Share Price
On Tuesday, V.F. CORPORATION reported positive earnings results for the first quarter of fiscal year 2024. The company’s stock opened at $19.7 and closed at $19.4, down 2.1% from its last closing price of $19.8. Despite the drop in stock price, the company’s earnings results were well above analysts’ expectations, showing strong financial performance during the quarter. Overall, V.F. CORPORATION continues to show strong financial performance, which is reflected in their stock price. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for V.f. Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 11.44k | 117.12 | 4.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for V.f. Corporation. More…
| Operations | Investing | Financing |
| -133.9 | -209.1 | 653.24 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for V.f. Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 14.04k | 11.33k | 7.49 |
Key Ratios Snapshot
Some of the financial key ratios for V.f. Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.3% | 2.9% | 2.1% |
| FCF Margin | ROE | ROA |
| -3.5% | 5.1% | 1.0% |
Analysis
We at GoodWhale conducted an in-depth analysis of V.F. CORPORATION, and based on our Risk Rating assessment, we consider V.F. CORPORATION to be a medium risk investment in terms of financial and business aspects. Our analysis revealed two risk warnings that appear on the income sheet and balance sheet, which could be a potential cause for concern. If you want to learn more about the V.F. Corporation’s assessment and get access to our full report, make sure to register on our website – goodwhale.com. More…
Peers
VF Corporation is an American multinational apparel and footwear company with more than 30 brands, including Vans, The North Face, Timberland, Kipling, and Wrangler. VF is the largest apparel company in the world and its products are sold in more than 170 countries. Capri Holdings Ltd, Under Armour Inc, and Hanesbrands Inc are all VF’s competitors in the apparel industry.
– Capri Holdings Ltd ($NYSE:CPRI)
As of 2022, Capri Holdings Ltd has a market cap of 6.42B and ROE of 25.1%. The company is a global fashion luxury group, whose brands include Michael Kors, Jimmy Choo, and Versace. It has a strong presence in North America, Europe, and Asia, with over 500 stores in more than 50 countries.
– Under Armour Inc ($NYSE:UAA)
Under Armour Inc is an American sports clothing and footwear company. The company’s products are designed to improve athletic performance. Under Armour was founded in 1996 by Kevin Plank, a former University of Maryland football player. The company is headquartered in Baltimore, Maryland.
– Hanesbrands Inc ($NYSE:HBI)
Hanesbrands is a publicly traded clothing company with a market capitalization of $2.41 billion as of 2022. The company’s return on equity, a measure of profitability, was 54.97% as of the same year. Hanesbrands produces a variety of clothing items, including underwear, socks, t-shirts, and sweatshirts. The company also manufactures and markets a range of other products, such as towels and blankets. Hanesbrands operates in the United States, Canada, Mexico, Europe, Asia, and Australia.
Summary
V.F. CORPORATION reported their financial results for the first quarter of FY2024. Total revenue was USD 2086.3 million, down 7.7% from the same period in the previous year. Net income saw a slight decrease from -56.0 million to -57.4 million.
Investors should be cautious in investing in the company due to the declining revenue and income, and should evaluate closely any potential risks to the company’s financials before investing. It would also be prudent to look into the company’s competitive landscape and macroeconomic factors that may be influencing their financial performance.
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