VF Corp drops on surprise Q4 loss, revenue miss
** Apparel retailer VF Corp's shares VFC.N fall ~15% to $10.46 in premarket trading
** VFC's Q4 revenue fell to $2.37 billion from a year earlier due to drop in its brands' sales; Analysts on average had estimated $2.41 billion
** VFC posts quarterly loss of 32 cents/shr, compared with estimates of 1 cent/shr profit - LSEG data
** Sales of VFC's major brands Vans down 26%, The North Face slip 5%, Timberland drop 14% and Dickies falls 15% YoY
** Other apparel retailers like Under Armour UAA.N, Calvin Klein-owner PVH Corp PVH.N, and Tapestry TPR.N are also facing choppy demand and strained spending by consumers
** Shares of Under Armour down 1.3% premarket
** At least 10 brokerages, including Citigroup, Evercore ISI, Guggenheim and TD Cowen, cut VFC price targets
** "We think it will continue to take time to turn around key brands (Vans, TNF) and get leverage back to a more acceptable level" - BofA Global Research
** Four of 23 brokerages rate the stock "buy" or higher, 17 "hold" and two "sell" or lower; their median PT is $13.5
** Up to last close, stock had fallen 31.41%
Reporting by Nikhil Sharma in Bengaluru
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