Index Option Calls
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Index Option Calls
No Result
View All Result
Home Latest News

North Face owner VF Corp. falls 10% after guidance cut, CEO steps down

by
December 5, 2022
in Latest News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Wall Street pros reveal their top defense stocks — and the same names keep coming up

Fears grow for untold numbers buried by Turkey earthquake

In this article

VFC

Igor Goloniov | Sopa Images | Getty Images

The North Face and Timberland-owner VF Corporation

CEO Steve Rendle is stepping down from his post after almost six years, effective immediately, the company said in a press release. Benno Dorer, who sits on the company’s board, will serve as interim CEO while the company searches for Rendle’s permanent replacement. Richard Carucci will serve as interim chairman of the board.

related investing news

This retailer has a unique view of the industry. Its profit warning doesn’t bode well for the holiday season
Robert Hum
27 minutes ago

Shares of the company fell 7% in early trading Monday.

VF Corp. said it now expects full-year revenue to increase by 3% or 4% over the prior year, down from previously projected growth of 5% or 6%. It estimates its full-year earnings to come in at about $2.00 to $2.20 per share, down from previous guidance of $2.40 to $2.50, announced a few weeks ago.

VF Corp. reported full-year earnings of $3.18 per share last year.

This is the second time in less than two months that VF Corp. has slashed its guidance. VF attributed its lowered financial outlook to “weaker than anticipated consumer demand,” especially in its North American market, which has caused fewer sales and more order cancellations. It also cited the overall tightening of consumer spending as a result of inflation and Covid-related disruption in China.

Those challenges may take a toll on short-term profitability, the company said.

ShareTweetPin

Related Posts

Wall Street pros reveal their top defense stocks — and the same names keep coming up

by
February 8, 2023
0

The war in Ukraine -- now nearing its one-year anniversary -- and the shooting down of an alleged Chinese surveillance...

Fears grow for untold numbers buried by Turkey earthquake

by
February 8, 2023
0

Mesut Hancer holds the hand of his 15-year-old daughter Irmak, who died in the earthquake in Kahramanmaras, close to the...

Goldman Sachs strategist reveals the ‘cheap’ sectors to own right now

by
February 8, 2023
0

Bank stocks are "inexpensive," and commodity companies look "cheap" in this high interest-rate environment, according to Goldman Sachs' Sharon Bell....

Why Biden’s 4% buyback tax could boost stock prices and dividends

by
February 8, 2023
0

The Biden administration’s new stock buyback tax will have little impact on the overall stock market. It might even actually...

Facebook co-founder funds research into cooling the Earth with sunlight reflection

by
February 8, 2023
0

This photograph taken on May 11, 2022 shows Shivaram, a villager walking through the cracked bottom of a dried-out pond...

Next Post

Stocks making the biggest moves midday: Tesla, VF Corp, Marriott, MGM and more

SPACs Collapse as $11 Billion of Deals Are Called Off Within an Hour

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000.

    0 shares
    Share 0 Tweet 0
  • A California Couple Spent Eight Years Building Their Dream Retirement Home in Costa Rica

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs says buy these stocks to play Web 3.0 and the metaverse

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs picks new stocks to buy — and says these 5 have over 100% upside

    0 shares
    Share 0 Tweet 0
  • In his final warning, this stock trading wizard — who made big money in bear markets and crashes — called this market a bubble like no other

    0 shares
    Share 0 Tweet 0
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.indexoptioncalls.com
No Result
View All Result
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.indexoptioncalls.com