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VF Company (NYSE: VFC), a number one attire and footwear firm, Tuesday introduced monetary outcomes for the fourth quarter of 2023.
- Fourth-quarter income decreased 3% year-over-year to $2.7 billion and remained flat in fixed {dollars}
- On an unadjusted foundation, the corporate reported a lack of $0.55 per share for This autumn, in comparison with earnings of $0.21 per share final yr
- Adjusted revenue was $0.17 per share in the course of the three-month interval, down from $0.45 per share reported final yr
- For fiscal 2024, the administration expects complete revenues to be flat to up barely in fixed {dollars}
- Gross margin is anticipated to develop at the least 100 foundation factors, benefiting from a decrease promotional atmosphere
- The estimate for earnings per share is $2.05-$2.25 for fiscal 2024
- The administration expects the full-year free money movement to be about $900 million
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