Finance chief departs amidst disappointing results

  • VF shares down 14% after disappointing sales
  • Revenue for fiscal Q3 declined 16% to $2.96 billion
  • Sales in the Americas plunged 24%
  • Vans sales dropped 28% to $668.2 million
  • Quarterly loss of $42.5 million compared to a profit of $507.9 million last year
  • Finance chief Matthew Puckett leaving during turnaround plan

Shares of VF dropped 14% after the company reported a larger-than-expected drop in revenue for the latest quarter. Revenue for fiscal Q3 declined 16% to $2.96 billion, missing analysts’ expectations. Sales in the Americas plunged 24%, with Vans experiencing a 28% drop in sales. VF also posted a quarterly loss of $42.5 million, compared to a profit of $507.9 million last year. Additionally, finance chief Matthew Puckett is leaving the company during its turnaround plan.

Public Companies: VF (VF)
Private Companies:
Key People: Matthew Puckett (Finance Chief), Bracken Darrell (Chief Executive)

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Factuality Level: 7
Justification: The article provides specific information about VF’s drop in revenue, the departure of the finance chief, and the company’s quarterly performance. The information is sourced from FactSet, which adds credibility. However, the article lacks in-depth analysis and context, and it does not provide a balanced perspective by including any positive aspects or potential reasons for the decline in revenue.

Noise Level: 3
Justification: The article provides relevant information about VF’s drop in revenue and the departure of their finance chief. It includes specific numbers and quotes from the company’s CEO. However, it lacks in-depth analysis, antifragility considerations, and actionable insights.

Financial Relevance: Yes
Financial Markets Impacted: Shares of VF

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to the financial performance of VF, a company in the apparel and footwear industry. It discusses a drop in revenue and the departure of the finance chief. There is no mention of an extreme event.

Reported publicly: www.marketwatch.com