WASHINGTON (dpa-AFX) - VF Corp. (VFC) has decided to withdraw its adjusted fiscal 2020 outlook as a result of the disruption and uncertainty caused by COVID-19. The company will provide more information during the fourth quarter conference call in May 2020.
As a precautionary measure, VF Corp. has elected to draw down $1 billion from its revolving credit facility. This funds the company's expected working capital requirements through the first half of fiscal 2021. The company said these additional actions will preserve financial liquidity and flexibility.
Copyright RTT News/dpa-AFX
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