North Face owner VF Corp. tops earnings estimates in latest quarter

Singapore News News

VF Corp. said Friday it had net income of $507.1 million, or $1.26 a share, in its fiscal second quarter to end September, up from $386.1 million, or 97 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.43, ahead of the FactSet consensus of $1.33. Revenue rose to $3.907 billion from $3.392 billion, also ahead of the FactSet consensus of $3.865 billion. The owner of brands including Vans, The North Face and Timberland said earnings were driven by core brands the international and direct-to-consumer platforms and work businesses. The company is now expecting fiscal 2019 adjusted EPS of $3.65 and revenue of at least $13.7 billion. The FactSet consensus is for EPS of $3.63 and revenue of $13.709 billion. Shares were not yet active premarket, but have gained 17.7% in 2018, while the S&P 500 has gained 3.6%.