May 23, 2024 14:55 GMT
VF Corp (VFC; Baa3 Neg, BBB- Neg) 4Q24 Results
CONSUMER CYCLICALS
- Equities -6% in US morning, firmer than pre-market levels. €lines +4-8bps ex. 26s that are unch.
- We will leave it at that for today. Unfort. we see no lines as attractive enough to step into is our summary take. Next catalyst/update will (hopefully) be an announcement of a brand sale(s).
- Next up in retailers is Capri (29th) relevant for Tapestry bondholders who are set to acquire it. PVH follows on the 4th with another expected rough earnings (though we are more focused on guidance).
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