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
Google CEO Sundar Pichai announced Monday a $10 billion Google for India Digitization Fund to help accelerate India's digital economy. The investment is planned over the next five to seven years through equity investments, partnerships, and operational, infrastructure and ecosystem investments. Logistics solutions provider Hi-Crush Inc. (HCR) announced Monday that it has voluntarily filed petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. Hi-Crush has also entered into a Restructuring Support Agreement... Analog Devices, Inc. (ADI) and Maxim Integrated Products, Inc. (MXIM) announced Monday that they have entered into a definitive agreement under which ADI will acquire Maxim in an all stock transaction that values the combined enterprise at over $68 billion. The transaction, which was unanimously approved...
Follow RTT