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March 23, 2020, 7:25 a.m. EDT

Vans parent VF Corp. withdraws guidance, draws down $1 billion from credit facility

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By Tonya Garcia

VF Corp. /zigman2/quotes/206706147/composite VFC +7.83% said Monday that it has withdrawn its full-year fiscal 2020 guidance due to uncertainty from the coronavirus outbreak. The company will provide more information when it reports its fiscal fourth-quarter earnings, scheduled for May 20. The company has also drawn down $1 billion from its credit facility. Including the draw down, VF Corp. says it has $1.5 billion cash on hand and about $1 billion left on the credit facility. VF Corp.'s portfolio of brands includes Vans and The North Face. VF Corp. shares are down 33% over the past year while the S&P 500 index /zigman2/quotes/210599714/realtime SPX +1.36% has fallen 17.7% for the period.

/zigman2/quotes/206706147/composite
US : U.S.: NYSE
$ 64.00
+4.65 +7.83%
Volume: 5.53M
June 3, 2020 4:00p
P/E Ratio
38.53
Dividend Yield
3.00%
Market Cap
$24.89 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
3,122.87
+42.05 +1.36%
Volume: 3.16B
June 3, 2020 5:18p
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