VF Corporation (NYSE: VFC), a leading apparel and footwear company, has announced financial results for the fourth quarter of 2024, reporting a net loss and lower revenues.
- At $2.4 billion, VFC’s fourth-quarter revenue was down 13% from the year-ago period
- Revenues of The North Face segment declined 5%; Vans revenue was down 26%
- Reported and adjusted gross margin came in at 48.4% in Q4, down 120 basis points
- Operating margin decreased by 910 basis points and adjusted operating margin dropped by 770 basis points YoY
- Q4 net loss widened to $418.3 million or $1.08 per share from $214.9 million or $0.55 per share a year earlier
- On an adjusted basis, the fourth-quarter loss was $0.32 per share, vs. profit of $0.17 per share in Q4 2023
- Inventories decreased by $382 million during the quarter (down 23% versus the prior year)
- For FY24, the company generated an operating cash flow of $1.015 billion, with free cash flow of $804 million
Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.
Most Popular
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q2 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported its second quarter 2024 earnings results today. Net sales increased 4.9% year-over-year to $5 billion. Organic sales increased 9%. Net income attributable to Colgate-Palmolive Company was $731
Key takeaways from Visa’s Q3 2024 earnings report
Credit card behemoth Visa, Inc. (NYSE: V) this week reported mixed results for the June quarter, with earnings matching expectations and sales slightly missing the view. Both numbers grew in
Southwest Airlines (LUV): A look at the airline’s performance in Q2 2024
Shares of Southwest Airlines Co. (NYSE: LUV) were up over 6% on Thursday after the company beat earnings estimates for the second quarter of 2024. The stock has gained 4%
