VF Corporation Faces Revenue Decline and Reviews Brand Portfolio

After a 16% drop in Q3 revenue, the apparel giant considers selling brands and maintains its financial outlook.

VF Corporation reports a 16% decrease in revenue to $3 billion for Q3, with significant sales drops across major brands.
The company announces a strategic review of its brand portfolio, potentially leading to the sale of brands like Supreme, Timberland, and Dickies.
Despite the downturn, VF Corporation maintains its free cash flow guidance for FY24 at approximately $600 million.
The Reinvent transformation program aims to stabilize revenue and improve operational performance.
VF Corporation's stock slides in after-hours trading, reflecting investor concerns over the quarterly results.