V.F. Corp. on Sept. 25 unveiled its fiscal outlook and strategic growth plan for fiscal 2024.
The maker of Vans, Dickies and JanSport products said it expects adjusted EPS to grow at a five-year CAGR of between 12% and 14% compared to fiscal 2019 figures.
Sales through 2024 are expected to grow at a five-year CAGR between 7% and 8%, with most growth coming from its largest brands, including Vans, The North Face, Timberland and Dickies. V.F. Corp. said growth could also come from its international businesses.
The Colorado-based company also expects to generate about $8 billion of free cash flow from fiscal 2020 to fiscal 2024 and plans to return about $10 billion to shareholders via repurchases and dividends.
Over the next five years, V.F. Corp. plans to focus on digitizing its consumer engagement and retail platforms, optimizing its portfolio and elevating direct channels. In the same release, the company said it also planned to distort investments to Asia as part of its five-year plan.
V.F. Corp. plans to hold an Investor Day event at 11 a.m. ET on Sept. 25, where it will unveil a new logo and branding.
During the investor day, the company could also address adjustments to fiscal 2019 results for its Williamson-Dickie, Icebreaker, Altra, Reef and the Van Moer businesses. An investor day presentation could also address the impacts of deal-related expenses, office relocation and other strategic expenses and new U.S. tax laws on its 2019 results.
