V.F. Corp. (VFC) Misses Q2 EPS by 2c, Offers FY22 EPS Guidance
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VF Corporation Reports Balanced Performance in Second Quarter and Revises Full Year Fiscal 2023 Outlook
October 26, 2022 4:05 PM EDTDENVER--(BUSINESS WIRE)-- VF Corporation (NYSE: VFC) today announced financial results for its second quarter (Q2'FY23) ended October 1, 2022.
Q2'FY23 Financial Highlights
Revenue $3.1 billion, declined 4% (up 2% in constant dollars) with big four brands down 5% (up 1% in constant dollars) and the balance of the portfolio up 4% (up 13% in constant dollars) The North Face® revenue $1.0 billion, up 8% (up 14% in constant dollars) Vans® revenue $1.0 billion, down 13% (down 8% in constant dollars) Gross margin 51.4%, down 230 basis points; Adjusted gross margin 51.5%, down 240 basis points Operating margin (2.9)%,... More