VF Corp. expects Vans to be down high single digit percentage range in FY23

Says Vans needs to perform better. Says VF portfolio in America must grow more consistently. Says in a difficult environment. Says higher lead time has impacted the business, but lead times are improving as anticipated. Sees North Face up at least 14% in FY23. Sees FY23 gross margin down 200 basis points Sees FY23 operating margin 9%. Sees FY23 tax rate 13%. Sees FY23 capital expenditures $200M. Comments and guidance taken from Q3 earnings conference call.