secwatch.observer — SEC 8-K summary
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Issuer:     V F CORP (VFC)
CIK:        0000103379
Form:       8-K
Filed at:   2022-09-28T23:59:59+00:00
Accession:  0001193125-22-252793
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.06, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

VF to record $300-450M Supreme impairment; cuts FY23 EPS guidance to $2.60-$2.70
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- Pre-tax non-cash impairment charge of $300M-$450M on Supreme goodwill and trademark due to higher rates and USD strength.
- FY23 revenue growth outlook cut to ~5-6% (constant $) from at least 7%; adjusted EPS now $2.60-$2.70 vs prior $3.05-$3.15.
- Vans brand revenue expected down mid-single digit % (constant $) in FY23 vs prior forecast of up mid-single digit.
- Q2 FY23 adjusted EPS guided $0.70-$0.75; revenue up low single digit % (constant $).
- Long-term FY27 targets: revenue CAGR mid-high single digit %, operating margin ~15%, cumulative $7B returned to shareholders.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/103379/000119312522252793/0001193125-22-252793-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/103379/000119312522252793/d383894d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-252793

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer