10:43 AM EDT, 10/30/2024 (MT Newswires) -- VF (VFC) unveiled Wednesday its medium-term financial targets, including an adjusted operating margin of at least 10% by fiscal 2028.

The company also said it aims for at least 55% adjusted gross margin, adjusted selling, general, and administrative expenses as a percentage of revenue of 45% or lower, and a net leverage of 2.5x or lower.

VF said it is implementing a "series of integrated workstreams" to reduce selling, general, and administrative expenses, expand gross margin, and position the company for revenue growth.

VF also said it plans to further reduce debt and leverage to optimize its capital structure.

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