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VF Corp Tumbles 6% Following Worse-Than-Expected Q4 Print

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Shares of VF Corp (NYSE: VFC) were trading lower by more than 6 percent after the company reported its fourth quarter results.

VF said that it earned $0.95 per share in the fourth quarter on revenue of $3.38 billion. Wall Street analysts were expecting the company to earn $1.01 per share on revenue of $3.64 billion.

Operating income for the quarter fell 6 percent from a year ago to $541 million while adjusted operating margin fell to 15.8 percent from 16.2 percent a year ago. The company noted that revenue from its Outdoor & Action Sports, Jeanswear, Imaagewear, Sportswear and Contemporary Brands were all lower year-over-year.

Inventories rose 9 percent at the end of the quarter with more than half of the increase directly attributable to cold weather products.

Looking forward to the full fiscal year, VF guided its earnings per share to rise 11 percent and its ales to be up by a mid-single digit.

"The final quarter of 2015 challenged many companies to leverage core strengths and adapt quickly to a changing landscape," said Eric Wiseman, VF Chairman and Chief Executive Officer.

"Our focus, discipline and agility amid a softer consumer environment, record warm weather and a strengthening U.S. dollar have us well positioned to navigate what we believe to be a relatively short-term challenge. Going forward, I remain confident in VF's ability to deliver continued long-term profitable growth and value creation for our shareholders."

 

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Posted-In: Apparel Companies apparel stocks Eric Wiseman Jeans CompaniesEarnings News Guidance Movers

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