VF Corp. sees FY24 free cash flow $600M

Says brand president of Vans will step down. Says working on building a more efficient company. Says CEO Bracken Darrell is taking a very active role in the turnaround of the brand. Says targeting $300M in cost reductions. Says bringing down debt and reducing leverage is the number one focus. Says will not be doing any acquisitions until the debt level is brought down. Says removing guidance. Says this is a turnaround. Says reduced inventory versus last year. Says continued weakness in U.S. business and Vans globally. Says Vans had another disappointing quarter with revenue dropping 23%. Comments taken from Q2 earnings conference call.