07:23 AM EDT, 05/24/2024 (MT Newswires) -- VF (VFC) has reportedly sold off two jets and is seeking to sell a 52,800-square-foot airplane hangar in Colorado as part of efforts to cut costs and raise cash amid declining sales, Bloomberg reported late Thursday, citing the company.

This week VF reported revenue for the fiscal year ended March 30 of $2.37 billion, down from $2.74 a year earlier.

VF aims to generate $600 million in free cash flow this fiscal year, partly through asset sales, according to the report.

The company faces a $1 billion loan maturity at the end of the year and $750 million in bonds maturing in April 2025.

The VF didn't immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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