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VF Corporation (NYSE: VFC), a leading apparel and footwear company, Tuesday announced financial results for the fourth quarter of 2023.
Fourth-quarter revenue decreased 3% year-over-year to $2.7 billion and remained flat in constant dollarsOn an unadjusted basis, the company reported a loss of $0.55 per share for Q4, compared to earnings of $0.21 per share last year Adjusted profit was $0.17 per share during the three-month period, down from $0.45 per share reported last year For fiscal 2024, the management expects total revenues to be flat to up slightly in constant dollarsGross margin is expected to grow at least 100 basis points, benefiting from a lower promotional environmentThe estimate for earnings per share is $2.05-$2.25 for fiscal 2024The management expects the full-year free cash flow to be about $900 million
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