VF Corp. Withdraws Its 2020 Guidance

Like many other companies, VF Corp. (NYSE: VFC) is facing an uncertain future in the face of the SARS-CoV-2 coronavirus threat. As a result, the apparel maker on Monday withdrew its guidance for its 2020 fiscal year, which ends March 30.

VF Corp.'s latest estimates for the fiscal year forecast that it would book revenue of $11.75 billion -- 5% higher than its 2019 result. On the bottom line, the company was modeling for a non-GAAP (adjusted) net profit of roughly $3.30 per share, which would have amounted to growth of around 15%.

That set of projections was already a downward revision; previously, the company had anticipated $11.8 billion for revenue, with adjusted EPS in a range of $3.32 to $3.37.

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Source Fool.com