Stock Track | VF Corp Shares Soar as Company Unveils Bold Financial Targets

Stock Track10-30

Shares of VF Corp (NYSE: VFC), the apparel and footwear company behind popular brands like The North Face, Vans, and Timberland, surged 5.04% on Tuesday, October 30, 2024, following the company's highly anticipated FY25 Investor Day. The stock rally was fueled by VF's introduction of ambitious medium-term financial targets and strategic initiatives aimed at driving profitability and streamlining operations.

During the investor event, VF unveiled a series of key objectives to be achieved by fiscal year 2028. These include an adjusted operating margin of at least 10%, with an adjusted gross margin of at least 55% and adjusted selling, general, and administrative (SG&A) expenses as a percentage of revenue capped at 45%. Additionally, the company aims to further strengthen its balance sheet by reducing net leverage to 2.5x or below.

VF's CEO, Bracken Darrell, emphasized the company's commitment to leveraging its powerful brand portfolio and implementing a unified operating model to accelerate growth. "We are accelerating the pace of change by building new capabilities across our organization to leverage our powerful portfolio of brands for long-term, sustainable, profitable growth," Darrell stated.

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