Plus   Neg

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, said that the current state of the COVID-19 pandemic in the U.S. is "really not good." The U.S. is the country worst-affected by the coronavirus and has recently seen a surge in coronavirus infections as lockdown restrictions are eased. Granules Pharmaceuticals, Inc. recalled twelve (12) lots of type 2 diabetes medication Metformin hydrochloride Extended-Release, in the form of oral film-coated tablets, for the potential presence of nitrosamine impurity, N-Nitrosodimethylamine (NDMA), above levels of the Acceptable Daily Intake Limit (ADI), the U.S. Food and Drug Administration or FDA said in a statement. Palantir Technologies Inc., the Silicon Valley big data analytics company that has handled U.S. government's certain sensitive projects, said it has confidentially filed documents with the Securities and Exchange Commission to go public. In a statement, the company said the proposed public listing of its Class A common stock is expected to take place after the SEC completes its review process.
Follow RTT