VF Corp reported $9.6 billion in revenue for FY24, beating analyst expectations of a 1.7 percent decline.
VF Corp reported a 1 percent increase in annual revenue to $9.6 billion for the fiscal year ended March 28, reversing a prior decline. Net profits reached $254 million, while operating margins expanded 280 basis points to 6 percent.
Analysts had anticipated a 1.7 percent revenue decline for the year, with a 2.2 percent growth forecast for the current fiscal year. The company guided for 1-2 percent revenue growth in FY25, citing macroeconomic challenges.
CEO Bracken Darrell indicated plans to accelerate growth toward mid-single digits in the longer term, though he acknowledged the target remains distant.