secwatch.observer — SEC 8-K summary
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Issuer:     V F CORP (VFC)
CIK:        0000103379
Form:       8-K
Filed at:   2023-10-30T23:59:59+00:00
Accession:  0001157523-23-001573
Event type: earnings
Sentiment:  negative
Materiality: 0.90
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

VF Corp Q2 loss per share $(1.16), cuts dividend 70%, withdraws FY24 guidance, launches Reinvent plan
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- Revenue $3.0B, down 2% (down 4% constant currency); The North Face up 19%, Vans down 21%.
- GAAP loss per share $(1.16) vs $(0.31); adjusted EPS $0.63 vs $0.73 prior year.
- Dividend cut 70% to $0.09/share; payable Dec 20 to holders of record Dec 11.
- Withdraws FY24 revenue/earnings outlook; lowers FY24 free cash flow guidance to ~$600M from ~$900M.
- Launches Reinvent transformation targeting $300M in fixed cost savings; Kevin Bailey steps down as Vans president, external search underway.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/103379/000115752323001573/0001157523-23-001573-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/103379/000115752323001573/a53702444.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-001573

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