VF Corporation


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SKU: VFC Category:


V.F. Corporation delivered an outstanding first quarter result for the 2022 fiscal, powering the company back to pre-pandemic revenue levels while driving an earnings recovery well ahead of its initial expectations. Its revenue has exceeded pre-pandemic levels growing 96% overall with an 83% organic growth and excellent momentum across brands, channels, and regions. Their global Direct-to-Consumer (DTC) business delivered a solid growth and was driven by a strong acceleration from their brick-and-mortar stores in the U.S. Its organic DTC digital business is now 72% above fiscal 2020 levels, including the growing benefit of its omnichannel capabilities as it serves its consumers seamlessly across their choice of channel. V.F. Corporation has seen a strong recovery in its gross margin despite inflationary pressures. Its gross margin increased by 260 basis points to 56.7%. It is evident that the management is starting off the fiscal year 2022 on a positive note. We give it a ‘Hold’ rating with a revised target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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