V.F. Corporation provided earnings guidance for the second quarter and full year of fiscal 2023. Second quarter revenue expected to be up low single digit % (in constant dollars) and adjusted EPS expected to be in the range of $0.70 to $0.75.

The company is revising its fiscal year 2023 outlook due to lower-than-expected second quarter fiscal year 2023 results, coupled with ongoing uncertainty in the current environment, weaker than anticipated back-to-school performance at Vans®and increasing inventories leading to a more promotional environment in North America in the fall; the revised outlook includes the following: Total VF revenue is expected to be up about +5% to 6% (in constant dollars) versus previous outlook of at least +7%.