VF Corp Lifts FY2027 Revenue Outlook to 2%-Plus, Names Abhishek Dalmia CFO
Updated
Updated · Quartz · Jul 29
VF Corp Lifts FY2027 Revenue Outlook to 2%-Plus, Names Abhishek Dalmia CFO
2 articles · Updated · Quartz · Jul 29
Summary
VF now expects FY2027 revenue to rise at least 2% in constant currency, up from prior guidance of 1% to 2%, after first-quarter sales and operating income beat its own targets.
$1.67 billion in quarterly revenue was down 5% reported, but up 1% excluding the sold Dickies brand and currency effects, beating VF's forecast for a low-single-digit decline and analysts' expected 6.8% drop.
$97.2 million in net loss improved from $116.4 million a year earlier, though the adjusted loss of $0.27 a share missed the $0.22 loss analysts expected; the stock fell more than 6% premarket.
Vans remained the main weak spot with revenue down 8%, while The North Face grew 6% and Timberland rose 4%; CEO Bracken Darrell said Vans wholesale should improve significantly in the second half.
Abhishek Dalmia will add the CFO role on Aug. 1, succeeding Paul Vogel, who moves to an advisory role, as VF also declared a quarterly dividend of $0.09 per share.