VFC - V.F. Corporation (VFC) Q4 2024 Earnings Call Transcript
2024-05-22 20:28:07 ET
V.F. Corporation (VFC)
Q4 2024 Results Conference Call
May 22, 2024 04:30 PM ET
Company Participants
Allegra Perry - Vice President, Investor Relations
Bracken Darrell - President and Chief Executive Officer
Martino Scabbia Guerrini - Chief Commercial Officer
Matt Puckett - EVP and Chief Financial Officer
Conference Call Participants
Michael Bennett - Evercore ISI
Laurent Vasilescu - BNP Paribas
Simeon Siegel - BMO Capital Markets
Brooke Roach - Goldman Sachs
Matthew Boss - JPMorgan
Dana Telsey - Telsey Advisory Group
Lorraine Hutchinson - Bank of America
Bob Drbul - Guggenheim
Paul Lejuez - Citigroup
Adrienne Yih - Barclays
Jonathan Komp - Baird
Ike Boruchow - Wells Fargo
Sam Poser - Williams Trading
Presentation
Operator
Hello, and welcome to the VF Corporation Fourth Quarter 2024 Earnings Call. [Operator Instructions] A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It’s now my pleasure to turn the floor over to Vice President of Investor Relations, Allegra Perry. Please go ahead, Allegra.
Allegra Perry
Good afternoon, and welcome to VF Corporation's fourth quarter fiscal 2024 conference call. Participants on today's call will make forward-looking statements. These statements are based on current expectations and are subject to uncertainties that could cause actual results to differ materially. These uncertainties are detailed in documents filed regularly with the SEC.
Unless otherwise noted, amounts referred to on today's call will be on an adjusted constant dollar basis which we've defined in the press release that was issued this afternoon, and which we use as lead numbers in our discussion, because we believe they more accurately represent the true operational performance and underlying results of our business.
You may also hear us refer to reported amounts, which are in accordance with U.S. GAAP. Reconciliations of GAAP measures to adjusted amounts can be found in the supplemental financial tables included in the press release, which identify and quantify all excluded items and provide management's view of why this information is useful to investors.
Joining me on the call will be VF's President and Chief Executive Officer, Bracken Darrell; EVP, Chief Commercial Officer, and President, Emerging Brands, Martino Scabbia Guerrini; and EVP and Chief Financial Officer, Matt Puckett. Following our prepared remarks, we'll open the call for questions.
I'll now hand over to Bracken.
Bracken Darrell
Thanks so much for joining us.
I finished 10 months here, and we've made a lot of progress. I'll begin today with a deep dive on our Reinvent program and why I'm confident we'll position VF to return to strong, sustainable growth. Then I'll briefly touch on our financial results before turning it over to Martino and Matt.
While I've discussed Reinvent on our prior calls, I'd like to go a few layers deeper today, so you can have a better understanding of how we're approaching this, the progress we've made so far and what's next. Almost everything is playing out as I expected it would when I took the role. We've taken the tough medicine that we needed to return to growth. Key organizational changes, leadership changes and strategic moves have largely been executed by the time we get to the end of my first year, and I feel really, really good about them.
Reinvent, which we introduced back in Q2, is fundamentally how we get back to strong growth. Some perceive this as a simple restructuring plan or tactical steps. It wasn't and it isn't. Reinvent is a blueprint for transforming a company from declining to growing. It has three key phases running in parallel: reset, ignite, and accelerate....
V.F. Corporation (VFC) Q4 2024 Earnings Call Transcript