VF (NYSE:VFC) reported a fiscal Q1 adjusted net loss late Tuesday of $0.15 per diluted share, swinging from per-share earnings of $0.09 a year earlier.
Analysts polled by Capital IQ expected a normalized per-share loss of $0.12.
Net revenue for the June quarter was $2.09 billion, down from $2.26 billion a year earlier. Analysts surveyed by Capital IQ expected $2.07 billion.
The company said it continues to expect fiscal 2024 EPS of $2.05 to $2.25. Analysts surveyed by Capital IQ expect $2.06. Revenue for the fiscal year is now expected to be modestly down to flat versus the company’s previous forecast for revenue to be flat to up slightly in constant dollars, it said.
VF also said it maintained its quarterly dividend at $0.30 per share, payable Sept. 20 to shareholders of record as of Sept. 11.