logo
Plus   Neg
Share
Email

VF Corp. Withdraws FY20 Outlook - Quick Facts

VF Corp. (VFC) has decided to withdraw its adjusted fiscal 2020 outlook as a result of the disruption and uncertainty caused by COVID-19. The company will provide more information during the fourth quarter conference call in May 2020.

As a precautionary measure, VF Corp. has elected to draw down $1 billion from its revolving credit facility. This funds the company's expected working capital requirements through the first half of fiscal 2021. The company said these additional actions will preserve financial liquidity and flexibility.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Amazon is expanding the aircraft fleet of its air cargo network by leasing 12 additional Boeing 767-300 converted cargo aircraft from Air Transport Services Group Inc. This comes amid increased demand for shipments due to the coronavirus pandemic. These aircraft will join Amazon Air's existing fleet of 70 aircraft to bring its total network to more than 80 aircraft. New York's transit agency The Metropolitan Transportation Authority or MTA has pulled its newest subway cars from service after two cars got detached from a moving train. New York City Transit Interim President Sarah Feinberg launched an investigation into the matter. The entire R179 fleet from Canadian company Bombardier Inc. has been pulled until further notice after the incident in Chambers AMC Entertainment Holdings, Inc., the world's largest theatre chain, said it has substantial doubt in its ability to continue its business as theaters across the world remain closed for months now following coronavirus or Covid-19 pandemic. In a regulatory filing, the company said it is "generating effectively no revenue", and that additional capital, if needed, may not be available.
Follow RTT