VF Corporation Stock Drops Sharply After Q1 Earnings Report
Shares of VF Corporation (VFC) fell nearly 19% after the company reported a wider-than-expected loss in its first-quarter earnings. Despite beating revenue estimates, the apparel giant saw declines at key brands like Vans and posted an adjusted operating loss of $95 million excluding Dickies, which it sold last year. The CFO transition also caught investors off guard as COO Abhishek Dalmia took over from Paul Vogel. CEO Bracken Darrell remained optimistic about the second-half recovery at Vans but could not prevent a sharp sell-off in shares. VF did raise its full-year revenue guidance slightly, forecasting 2% growth and maintaining an adjusted operating margin target of 8%, though this was insufficient to reassure investors. The stock's steep decline highlights investor concerns over brand performance and leadership changes despite the company’s modestly improved outlook.
Tickers: $VFC