VFC - V.F. Corp. Aims To Deliver A 'No Sacred Cows' Business Transformation

February, 14 2024 03:54 PM V.F. Corporation

2024-02-14 15:54:25 ET

Summary

V.F. Corporation stock fell into another bear market recently, declining more than 30% from its December highs to its recent February lows.
V.F. Corporation disappointed investors with its fiscal third-quarter earnings release. However, management vowed a 'no sacred cow' business overhaul.
The company needs to convince investors that it can execute its transformation plans. Its well-battered valuation suggests the market is in a wait-and-see posture.
I argue why recent buying sentiments are robust, suggesting the market remains confident in giving V.F. Corporation the benefit of the doubt.
With a relatively attractive valuation and more robust price action, I explain why the worst in VFC's incredible decline is likely over.

V.F. Corporation ( VFC ) investors have endured another torrid two months since my early December 2023 update. I upgraded VFC then, assessing that the worst is likely over. However, VFC's recovery momentum topped out in December, as the market correctly assessed that there could be more headwinds approaching the release of VFC's third fiscal quarter or FQ3'24 earnings scorecard. ...