VF Corporation Shares Drop After Q1 Earnings Miss
Shares of VF Corporation (NYSE: VFC) fell sharply after the company reported a wider-than-expected loss in its first-quarter earnings. Despite revenue beating estimates at $1.67 billion, excluding the recently sold Dickies brand, the stock dropped nearly 19% due to disappointing operating results and concerns over performance from key brands like Vans. VF posted an adjusted operating loss of $95 million compared to a prior-year loss for Dickies. Adjusted earnings per share also missed expectations at -$0.27 versus forecasts of -$0.22. The company announced a leadership change, with COO Abhishek Dalmia taking over as CFO. Despite raising full-year revenue guidance slightly and expressing optimism about the second half from Vans' recovery, investors remained skeptical. CEO Bracken Darrell acknowledged challenges but maintained confidence in long-term growth.
Topics: apparel CFO transition operating loss revenue decline