Market Overview

UPDATE: VF Corp Posts Rise In Q2 Earnings

Related VFC
Earnings Scheduled For February 13, 2015
Must Watch Stocks for Today
5 Common Errors Of A Dividend Growth Forecast (Seeking Alpha)

VF Corp (NYSE: VFC) reported a rise in its second-quarter earnings.

The Greensboro, North Carolina-based company posted quarterly earnings of $157.7 million, or $0.36 per share, compared to $138.3 million, or $0.31 per share, in the year-ago period.

Its revenue climbed 8% to $2.4 billion. However, analysts were expecting earnings of $0.35 per share on revenue of $2.36 billion.

Revenues for the Outdoor & Action Sports coalition rose 16% to $1.3 billion, while Jeanswear revenue declined 1% to $606 million. Imagewear revenue gained 3% to $250 million, while Sportswear revenue surged 5% to $140 million. Contemporary Brands coalition revenue dropped 2% to $96 million in the quarter.

International revenue climbed 14% in the quarter. Revenue in Europe surged 16%, while revenue in the Americas region gained 6%.

Direct-to-consumer revenue jumped 18% in the second quarter.

Its gross margin declined 10 basis points to 48.4%. Operating income climbed 9% to $220 million from $201 million.

Eric Wiseman, VF Chairman, President and Chief Executive Officer said, “Our strong second quarter results, led by our Outdoor & Action Sports coalition, put us right in line with our full-year outlook and long-term growth commitments.”

VF Corp affirmed its revenue growth forecast of 8% for the full year. It also projected earnings of $3.06 per share.

VF Corp shares dropped 0.97% to $61.00 in pre-market trading.

Posted-In: profitEarnings News Guidance


Related Articles (VFC)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Our Experts vs. S&P 500Powered by Benzinga
Marketfy Products Return S&P 500
Morning Profit Maker 42.72% 6.69%
The Option Prophet 91.14% 6.69%
SecretCaps 26.55% 6.69%
Short-Term Trend Trading 11.89% 6.69%
View the highest rated products→