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VF Corp. Updates Growth Plan; Targets Five-year Revenue CAGR Of 7%-8%

VF Corp. (VFC), an apparel, footwear and accessories company, updated its five-year strategic growth plan and financial outlook. The company's fiscal 2024 strategic growth plan is an evolution of its 2021 strategic growth plan. Also, VF unveiled an evolved corporate logo and branding.

Under the fiscal 2024 strategic growth plan, the company expects earnings per share to grow at a five-year CAGR of between 12 percent and 14 percent as compared to fiscal 2019 adjusted EPS. Revenue through fiscal 2024 is expected to grow at a five-year CAGR between 7 percent and 8 percent.

VF Corp. targets approximately $8 billion of free cash flow on a cumulative basis between fiscal 2020 and fiscal 2024. The company plans to return $10 billion to shareholders. VF expects to deliver annual total shareholder return in the 14 percent to 16 percent range.

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