VF Corp. (Vans, Reef, North Face)

I’ve spent some time on VF’s 10-K filing for the year ended December 31, 2017.  It was a thought provoking read (yes, I know I’m the only one who would say that about a 10-K) that left me thinking about how VF tries to derive its competitive advantage.  There are some lessons in it for […]

Before I dive too deep into the financial weeds, let’s look at VF’s overall strategy as explained by CEO Steve Rendle and Chief Financial Officer Scott Roe in their conference call discussing the results for the quarter ended June 30, 2017. Strategy Stuff Steve: “…while we expect the retail landscape to remain uncertain, we will

Well, there you have it.  At some level, it is that simple.   But let me complete CFO Scott Roe’s comment in the conference call.  “…we are sharply focused on fundamentals and willing to sacrifice a little growth in the near term for quality. Our efforts are clearly paying off in the gross margin line. And

It’s accurate to say that VF ran into the same issues and economic dislocations as other brands and retailers.  During their fourth quarter, ended December 31, 2016, revenues fell 2.7% from $3.41 billion to $3.32 billion in the quarter ended December 31, 2015 (the prior calendar period- PCP).  Net income was also down from $312

We’re All in This Together:  Things to Think About from VF’s Quarterly Report VF’s 10-Q for the quarter ended September 30 showed up last week.  As usual, I’ll look at the numbers.  But I want to focus on several statements and action VF highlights in their conference call and 10-Q.  They highlight the extent to

After the results we’ve seen from VF in previous quarters and years, this quarter’s can only be characterized as disappointing.  Just goes to show you how difficult the market is right now.  They’ve got lots of company. Total revenue rose just 0.75% to $2.445 billion.  VF ended the quarter with 1,461 brick and mortar stores

VF filed its 10-Q for the quarter ended April 2nd on May 10th.  The results, while in line with expectations, showed VF under the same kind of pressure other public companies are dealing with.  Even their action sports segment, where most of their growth has been coming from, experienced very modest sales growth and reduced

VF reported a 4.62% revenue increase in the quarter that ended June 30 compared to the same quarter last year (prior calendar period- PCP). The increase was from $2.402 to $2.514 billion. As usual, we’ll focus on the Outdoor & Action Sports (OAS) segment, as that’s where most of the action seems to be. Below

VF’s 10Q for the quarter ended September showed another strong result. You can see the 10Q here. However, as with recent quarters, the good news was pretty much limited to their outdoor and action sport segment (OAS). I want to talk a bit about what that might mean, but first, let’s lay out the numbers.

That the outdoor and action sports segment (OAS) of VF’s business is critical to its overall success is pretty obvious from the numbers. Total company revenue for the quarter rose 8% from $2.22 to $2.4 billion. OAS revenue rose 16% from $1.1 to $1.28 billion. OAS generated more than 53% of the quarter’s total revenues. OAS revenue experienced “…double-digit