UPDATE: VF Posts 20% Surge In Q2 Profit, Lifts Forecast

VF Corp

reported a 20% rise in its second-quarter profit. VF lifted its full-year adjusted earnings view to around $9.50 per share, up versus its earlier forecast of $9.45 per share. VF's quarterly profit gained to $155.3 million, or $1.40 per share, versus $129.4 million, or $1.17 per share, in the year-ago period. Excluding other items, VF's adjusted earnings came in at $1.11 per share. Its revenue climbed 16% to $2.14 billion. However, analysts were expecting earnings of $0.94 per share on revenue of $2.18 billion. VF's gross margin rose to 46.1% from 45.9%. VF shares gained 3.92% to $147.37 in pre-market trading.