06:22 AM EDT, 05/23/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

VF (VFC) shares fell more than 14% in premarket activity Thursday after the company reported a surprise loss in fiscal Q4 and sales down more than forecast.

The company reported a fiscal Q4 adjusted loss late Wednesday of $0.32 per share, compared with earnings of $0.17 per share a year earlier.

Analysts surveyed by Capital IQ expected EPS of $0.01.

Revenue for the quarter ended March 30 was $2.37 billion, down from $2.74 billion a year earlier.

Analysts surveyed by Capital IQ expected $2.41 billion.

The company said its board maintained a quarterly dividend of $0.09 per share, payable on June 20 to shareholders of record on June 10.

Separately, VF said it appointed Paul Vogel as chief financial officer, starting July 8, succeeding Matt Puckett, who will be stepping down.

Vogel most recently served as CFO of Spotify Technology (SPOT).

Price: 10.52, Change: -1.81, Percent Change: -14.68