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VF (VFC)

Founded in 1899, VF Corporation is one of the world's largest apparel, footwear and accessories companies connecting people to the lifestyles, activities and experiences they cherish most through a family of iconic outdoor, active and workwear brands including Vans®, The North Face®, Timberland® and Dickies®. The Company's purpose is to power movements of sustainable and active lifestyles for the betterment of people and our planet. The Company connects this purpose with a relentless drive to succeed to create value for all stakeholders and use our company as a force for good.

Company profile

Ticker
VFC
Exchange
Website
CEO
Steven Rendle
Employees
Incorporated
Location
Fiscal year end
Former names
V F CORP /PA/, V F CORP/NC
SEC CIK
Subsidiaries
1994 Inc. Ltd. • 530 Park Ave 10-F, LLC • 530 Park Ave 14-H, LLC • ALL'CROWN SA • Altra LLC • C.C.R.L., LLC • Chapter 4 Corp • Cherry SAS • Ciliegia Srl • Dickies de Honduras SA ...
IRS number
231180120

VFC stock data

Calendar

5 Aug 22
13 Aug 22
1 Apr 23
Quarter (USD) Jul 22 Apr 22 Jan 22 Oct 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Apr 22 Apr 21 Mar 20 Mar 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 528.03M 528.03M 528.03M 528.03M 528.03M 528.03M
Cash burn (monthly) 249.3M 62.24M (no burn) (no burn) 119.44M (no burn)
Cash used (since last report) 342.17M 85.43M n/a n/a 163.93M n/a
Cash remaining 185.86M 442.6M n/a n/a 364.1M n/a
Runway (months of cash) 0.7 7.1 n/a n/a 3.0 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
3 Aug 22 Mcmullen W Rodney Common Stock Buy Acquire P No No 44.762 6,000 268.57K 34,145.964
2 Aug 22 Cho Alex Common Stock Grant Acquire A No No 0 1,611 0 1,611
2 Aug 22 Cho Alex NQSO Common Stock Grant Acquire A No No 44.74 5,403 241.73K 5,403
1 Jul 22 Carucci Richard Phantom Stock-d Common Stock Grant Acquire A No No 43.775 713.878 31.25K 31,069.212
1 Jul 22 Juliana L Chugg Phantom Stock-d Common Stock Grant Acquire A No No 43.775 770.988 33.75K 13,342.319
1 Jul 22 Hoplamazian Mark Samuel Phantom Stock-d Common Stock Grant Acquire A No No 43.775 571.102 25K 4,588.198
94.3% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 840 905 -7.2%
Opened positions 79 137 -42.3%
Closed positions 144 102 +41.2%
Increased positions 322 298 +8.1%
Reduced positions 307 318 -3.5%
13F shares Current Prev Q Change
Total value 20.74B 27.32B -24.1%
Total shares 366.26M 373.09M -1.8%
Total puts 1.48M 1.86M -20.9%
Total calls 1.3M 2.34M -44.2%
Total put/call ratio 1.1 0.8 +41.8%
Largest owners Shares Value Change
PNC PNC Financial Services 77.48M $4.41B -0.0%
Vanguard 40.2M $2.29B +16.3%
Capital International Investors 27.76M $1.58B +27.7%
BLK Blackrock 25.01M $1.42B +3.3%
NTRS Northern Trust 24.91M $1.42B -0.4%
STT State Street 18.08M $1.03B +0.9%
WFC Wells Fargo & Co. 10.22M $580.99M +10.0%
Diamond Hill Capital Management 7.63M $433.77M +29.2%
Charles Schwab Investment Management 6.49M $369.02M +6.3%
Geode Capital Management 6.2M $352.03M +4.5%
Largest transactions Shares Bought/sold Change
Parnassus Investments 4M -9.81M -71.0%
Capital International Investors 27.76M +6.02M +27.7%
Vanguard 40.2M +5.63M +16.3%
Capital World Investors 2.68M -5.61M -67.6%
Wellington Management 725.82K -3.31M -82.0%
TROW T. Rowe Price 463.41K -3.04M -86.8%
Norges Bank 0 -2.91M EXIT
AMP Ameriprise Financial 2.12M -2.83M -57.2%
Diamond Hill Capital Management 7.63M +1.72M +29.2%
JPM JPMorgan Chase & Co. 3.06M -1.48M -32.6%

Financial report summary

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Risks
  • VF’s revenues and profits depend on the level of consumer spending for apparel and footwear, which is sensitive to global economic conditions and other factors. A decline in consumer spending could have a material adverse effect on VF.
  • The apparel and footwear industries are highly competitive, and VF’s success depends on its ability to gauge consumer preferences and product trends, and to respond to constantly changing markets.
  • The retail industry has experienced financial difficulty that could adversely affect VF's business.
  • VF’s profitability may decline as a result of increasing pressure on margins.
  • VF’s business and the success of its products could be harmed if VF is unable to maintain the images of its brands.
  • VF’s revenues and cash requirements are affected by the seasonal nature of its business.
  • We may be adversely affected by weather conditions.
  • VF may not succeed in its business strategy.
  • VF relies significantly on information technology. Any inadequacy, interruption, integration failure or security failure of this technology could harm VF’s ability to effectively operate its business.
  • VF is subject to data and information security and privacy risks that could negatively affect its business operations, results of operations or reputation.
  • There are risks associated with VF’s acquisitions and portfolio management.
  • VF uses third-party suppliers and manufacturing facilities worldwide for its raw materials and finished products, which poses risks to VF’s business operations.
  • A significant portion of VF’s revenues and gross profit is derived from a small number of large customers. The loss of any of these customers or the inability of any of these customers to pay VF could substantially reduce VF’s revenues and profits.
  • Talent management, employee retention and experience are important factors in VF’s success.
  • VF’s direct-to-consumer business includes risks that could have an adverse effect on its results of operations.
  • VF’s net sales depend on the volume of traffic to its stores and the availability of suitable lease space.
  • VF may be unable to protect its trademarks and other intellectual property rights.
  • If VF encounters problems with its distribution system, VF’s ability to deliver its products to the market could be adversely affected.
  • VF’s business and operations could be materially and adversely affected if it fails to create systems of monitoring, prevention, response, crisis management, continuity and recovery to mitigate natural or man-made economic, political or environmental disruptions.
  • VF’s operations and earnings may be affected by legal, regulatory, political and economic uncertainty and risks.
  • Changes to U.S. or international trade policy, tariff and import/export regulations or our failure to comply with such regulations may have a material adverse effect on our reputation, business, financial condition and results of operations.
  • Changes in tax laws could increase our worldwide tax rate and tax liabilities and materially affect our financial position and results of operations.
  • We may have additional tax liabilities from new or evolving government or judicial interpretation of existing tax laws.
  • Our business is subject to national, state and local laws and regulations for environmental, consumer protection, corporate governance, competition, employment, privacy, safety and other matters. The costs of compliance with, or the violation of, such laws and regulations by VF or by independent suppliers who manufacture products for VF could have an adverse effect on our operations and cash flows, as well as on our reputation.
  • Fluctuations in wage rates and the price, availability and quality of raw materials and finished goods could increase costs.
  • VF’s business is exposed to the risks of foreign currency exchange rate fluctuations. VF’s hedging strategies may not be effective in mitigating those risks.
  • Our ability to obtain financing on favorable terms, if needed, could be adversely affected by geopolitical risk and volatility in the capital markets.
  • VF’s indebtedness could have a material adverse effect on its business, financial condition and results of operations and prevent VF from fulfilling its financial obligations, and VF may not be able to maintain its current credit ratings, may not continue to pay dividends or repurchase its common stock and may not remain in compliance with existing debt covenants.
  • VF is subject to the risk that its licensees may not generate expected sales or maintain the value of VF’s brands.
  • Volatility in securities markets, interest rates and other economic factors could substantially increase VF’s defined benefit pension costs.
  • The spin-off of Kontoor Brands, Inc. could result in substantial tax liability to us and our shareholders.
Management Discussion
  • VF reported a 28% increase in revenues in Fiscal 2022 compared to Fiscal 2021, including a 1% favorable impact from foreign currency. The revenue increase was primarily attributable to recovery from the negative impact of COVID-19 on demand and distribution channels in the prior year, which included temporary closures of VF-operated retail and VF's wholesale customer stores. The growth rate has also been impacted in the current year by supply chain disruption, including port delays, lengthened transit times, logistics challenges and supplier production issues. Fiscal 2022 also included a $438.5 million (5%) contribution from the Supreme acquisition, through the one-year anniversary of the acquisition. Fiscal 2021 included an extra week when compared to Fiscal 2022 due to VF's 53-week Fiscal 2021.

Content analysis

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Constraining
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