VF Corp. (VFC)

Shares of VF Corp. (VFC) dropped by 7.79% from $19.91 to $18.36 in the trading on Monday, December 18, 2023. The reason why VFC down today is due to the disclosure of a cyberattack by VF Corporation, the parent company of brands such as Vans, The North Face, Timberland, and Smart Wool. VF reported unauthorized access to a portion of its IT systems on December 13, 2023, taking immediate action to contain and address the incident. The cyberattack disrupted operations by encrypting IT systems and stealing some data, including personal information. VF is working to restore its impacted IT systems and minimize disruptions to holiday sales, although fulfilling online orders has been affected.

Shares of V.F. Corporation (VFC) dropped by 11.07% from $14.73 to $13.10 in the trading on Wednesday, November 1, 2023. The reason why VFC down is due to an analyst's price-target cut. Ahead of the market opening, Goldman Sachs analyst Brooke Roach slashed her price target for VF Corp to $19 per share, down from her previous estimate of $24. Despite the price cut, she maintained a buy recommendation for the company. This move followed a trend of revised and more pessimistic analyst opinions on VF Corp, with some downgrading the stock from Buy to Hold.

Shares of V.F. Corporation (VFC) dropped by 13.96% from $17.12 to $14.73 in the trading on Tuesday, October 31, 2023. The reason why VFC down is due to the release of mixed quarterly results and the withdrawal of full fiscal-year earnings guidance.

• Quarterly report: In the fiscal Q2 of 2024, VFC reported a 2% YoY revenue decline to $3.034 billion. They also posted a GAAP net loss of $450.7 million ($1.16 per share). Adjusted earnings of $0.63 per share fell slightly short of analyst expectations.
• Brand Performance: The North Face had a strong 19% YoY growth, while Vans sales dropped by 21%, and direct-to-consumer sales fell by 3%. International sales grew by 10% YoY, driven by Greater China (8%) and the EMEA region (14%).
• Concerns and Withdrawals: The company withdrew its full-year guidance due to areas needing improvement, particularly in Vans and the U.S. They lowered the full-year free cash flow outlook to around $600 million, down from $900 million. These actions, though necessary for long-term growth, raised concerns among investors, leading to a significant stock price drop.

VFC's stock fell 8.18% related to bad news of Foot Locker. Retail stocks are taking it on the chin as investors worry what Foot Locker's bad news means for their own retail stocks. Foot Locker's sales falling no more than 8% this year -- profits falling as much as 7.5x faster than sales. They implies very deep discounting so it seems that a very tough competition for company like VF Corp. will happen that must match those prices or lose those sales to Foot Locker this year.

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