(VFC) Alert: Johnson Fistel Investigates V.F. Corporation; Investors Suffering Losses Encouraged to Contact Firm

SAN DIEGO, Jan. 31, 2020 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of the federal securities laws by V.F. Corporation ("VF") (NYSE: VFC).

On January 23, 2020, VF announced third-quarter fiscal 2020 results. V.F. Corp reported net revenue of $3.38 billion for the three months ended December 28, 2019, but fell short of the average analyst estimate of $3.43 billion. Additionally, the Company estimated annual revenue of $11.75 billion, compared with its prior forecast of $11.8 billion. It projected adjusted profit per share to be about $3.30, lower than its previous range of $3.32 to $3.37.

On a conference call that same day, CFO Scott Roe, disclosed that the Company intended to sell "the Occupational Work Brands."  Roe stated, "From a financial standpoint the occupational work brands contributed about $865 million of revenue and $130 million of adjusted operating income in fiscal 2019."

Following this news, the price of VF common stock plunged, declining $9.16 per share, or 9.69%, to close at $85.41 per share on January 23, 2020.

If you have information that could assist in this investigation, including past employees and others, or if you are a VF shareholder and are interested in learning more about the investigation, please contact Mike Fistel (michaelf@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Mike Fistel, 619-814-4471
michaelf@johnsonfistel.com

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SOURCE Johnson Fistel, LLP

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