By Adriano Marchese
VF Corp.'s loss narrowed in the fiscal fourth quarter, despite lower revenue, which is expected to fall further in the fiscal first quarter.
The apparel and footwear company, which houses the Timberland and The North Face brands, on Wednesday posted a net loss of $150.8 million, or 39 cents a share, for the three months ended March 31, compared with a loss of $418.3 million, or $1.08 a share, in the same quarter a year ago.
Adjusted loss came to 13 cents a share. According to FactSet, analysts were expecting a loss of 14 cents a share.
Revenue fell to $2.14 billion from $2.25 billion, below analyst forecasts of $2.17 billion.
Looking ahead to the first quarter, the company expects revenue to fall between 3% and 5%, with an operating loss of $110 million to $125 million.
For the full year, the company said it expects free cash flow to grow above fiscal 2025's $313 million.
Chief Executive Bracken Darrell said that the company's transformation is under way to lower its cost base and strengthen the balance sheet by paying down debt.
"We delivered on our initial target of $300 million gross cost savings and are on track towards our medium-term targets of $500 million to $600 million net operating income expansion," Darrell said.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
May 21, 2025 06:25 ET (10:25 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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