secwatch.observer — SEC 8-K summary
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Issuer:     V F CORP (VFC)
CIK:        0000103379
Form:       8-K
Filed at:   2023-02-07T23:59:59+00:00
Accession:  0001157523-23-000196
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

VF reports Q3 adjusted EPS $1.12, revenue $3.53B; cuts dividend 41%; lowers margin outlook
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- GAAP EPS $1.31 (down 1%); Adjusted EPS $1.12 (down 17%); Revenue $3.53B, down 3% (up 3% cc).
- Dividend cut to $0.30/share from $0.51 (41% decrease); payable March 21, 2023.
- Vans revenue down 13% (-9% cc); The North Face up 7% (+13% cc); EMEA constant currency up 10%.
- FY23 outlook: Adj. EPS $2.05-$2.15 reaffirmed; Adj. operating margin ~9.5% (prior ~11%); gross margin down ~200 bps.
- Exploring sale of Global Packs business (Kipling, Eastpak, JanSport); targeting asset sales including European HQ sale-leaseback.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/103379/000115752323000196/0001157523-23-000196-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/103379/000115752323000196/a53304138.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-000196

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