VF Sets Five-Year Outlook, Will Adopt New Logo

Date : 09/25/2019 @ 11:54AM
Source : Dow Jones News
Stock : VF Corporation (VFC)
Quote : 83.66  -0.39 (-0.46%) @ 12:59AM
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Last $ 83.66 ◊ 0.00 (0.00%)

VF Sets Five-Year Outlook, Will Adopt New Logo

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   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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