V.F.: Fiscal 1Q Earnings Snapshot
GREENSBORO, N.C. (AP) _ V.F. Corp. (VFC) on Wednesday reported fiscal first-quarter earnings of $49.2 million.
The Greensboro, North Carolina-based company said it had net income of 12 cents per share. Earnings, adjusted to account for discontinued operations and non-recurring costs, were 30 cents per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The maker of brands such as Vans, North Face and Timberland posted revenue of $2.27 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $2.24 billion.
V.F. expects full-year earnings in the range of $3.32 to $3.37 per share, with revenue expected to be $11.8 billion.
V.F. shares have climbed 24% since the beginning of the year, while the Standard & Poor’s 500 index has risen 20%. The stock has declined slightly more than 4% in the last 12 months.