VF Sets Five-Year Outlook, Will Adopt New Logo
September 25 2019 - 7:54AM
Dow Jones News
By Dave Sebastian
VF Corp. (VFC) Wednesday said it plans to return $10 billion to
shareholders through dividends and share repurchases, among a slew
of five-year growth plans it set ahead of its meeting with
investors and analysts in Beaver Creek, Colo.
The company, which owns brands such as Vans, the North Face,
Timberland and Dickies, said it expects revenue to grow at a
compounded annual growth rate between 7% and 8%.
VF said it sees per-share earnings growing at a five-year
compounded annual growth rate of 12% to 14% compared with the
fiscal 2019 adjusted per-share earnings.
The company said it expects to generate about $8 billion of free
cash flow between fiscal 2020 and fiscal 2024. It said it expects
to deliver annual total shareholder return of 14% to 16%.
At Wednesday's event, VF said it would introduce a new corporate
logo and branding, its first update in 21 years. As part of its
five-year plan, VF said it would reinforce its digital efforts.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
September 25, 2019 07:39 ET (11:39 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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