VFCO34.SA
V.F. Corporation News
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"title": "V. F. Corporation: Weaker Performance But Some Restructuring Effect Shows Up (NYSE:VFC)",
"description": "V.F. Corporation's stock price plummets to decade lows due to poor sales performance, despite efforts to restructure and reduce debt.",
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"snippet": "dnaveh/iStock Editorial via Getty Images\n\nSince the last time I wrote about the skateboarding shoe brand Vans’ owner V.F. Corporation (NYSE:VFC) in January, i...",
"url": "https://seekingalpha.com/article/4687127-vf-corporation-weaker-performance-some-restructuring-effect-shows-up",
"image_url": "https://static.seekingalpha.com/cdn/s3/uploads/getty_images/483956168/image_483956168.jpg?io=getty-c-w1536",
"language": "en",
"published_at": "2024-04-28T18:38:09.000000Z",
"source": "seekingalpha.com",
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"symbol": "VFCO34.SA",
"name": "V.F. Corporation",
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"highlight": "dnaveh/iStock Editorial via Getty Images\n\nSince the last time I wrote about the skateboarding shoe brand Vans’ owner <em>V.F</em>. <em>Corporation</em> (NYSE:VFC) in January, its price is down by 21%. Even then, the company’s weakening fundamentals inspired little faith in the stock, prompting a Hold rating.",
"sentiment": 0.5325,
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"highlight": "If sustained it could support <em>V.F</em>. <em>Corporation</em> at a time when its big Americas market was slowing down.\n\nBut the trend has reversed (see table below), adding to the drag from the Americas. The forward push is now provided only by the APAC market, which is a relatively small contributor to revenues anyway.\n\nSource: <em>V.F</em>.",
"sentiment": 0.2023,
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"highlight": "<em>Corporation</em>\n\nOperating performance weakens\n\nSecond, the operating figures have also taken a turn for the worse after an improvement in the reported operating margin to 6.9% in H1 FY24 from an operating loss in H1 2022. <em>V.F</em>.",
"sentiment": -0.5719,
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"highlight": "<em>Corporation</em> reported an operating loss once again, on account of a sharp revenue drop in Q3 FY24 and despite a slight decline in the combined cost of goods sold and operating costs. As a result, the operating margin for the first nine months of FY24 has also declined, to 4%.",
"sentiment": -0.5267,
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"highlight": "This is also visible in the two areas <em>V.F</em>. <em>Corporation</em> wants to revitalise, indicating that so far the restructuring efforts haven't borne fruit.\n\nThe first of these is the Americas market. The company intended to make changes to its operating model for better results.",
"sentiment": 0.4404,
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"highlight": "Vans used to be <em>V.F</em>. Corporation’s biggest brand by revenue, but its declining popularity has now made it second to the outerwear brand, The North Face. It’s still significant to the company, to be sure, with a 27% revenue contribution in 9m FY24. But its performance is a separate matter.",
"sentiment": 0.8573,
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"highlight": "Source: <em>V.F</em>. <em>Corporation</em>\n\nImpressive cost cuts\n\nThe company’s progress in cost reduction is impressive, though. Both its costs of goods sold and SGA expenses have declined by 17% and 1% YoY respectively in Q3 FY24. In absolute terms, this is a decline of ~USD 280 million put together.",
"sentiment": 0.8625,
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{
"highlight": "I’m retaining a Hold rating on <em>V.F</em>. <em>Corporation</em>.",
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Other details
Exchange
- The B3 S.A. - Brasil, Bolsa, Balcão
- equity
- Consumer Cyclical
- br