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Jan. 27, 2021, 7:26 a.m. EST

VF Corp. reports revenue miss, shares fall

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By Tonya Garcia

VF Corp. /zigman2/quotes/206706147/composite VFC +1.38% shares fell 1% in Wednesday premarket trading after the parent company to Vans, The North Face and Timberland reported fiscal third-quarter revenue that fell below Street expectations and gave weak guidance. Net income totaled $347.2 million, or 88 cents per share, down from $465.0 million, or $1.16 per share, last year. Adjusted EPS of 93 cents beat the FactSet consensus of 90 cents. Revenue totaled $2.97 billion, down from $3.16 billion last year and below the FactSet consensus for $3.00 billion. Sales for the Vans brand were down 6%. Sales for The North Face were flat, though the company's entire outdoor segment fell 5%. The work segment was up 8%, including a 9% increase for the Dickies brand. In regions around the world, most of VF Corp.'s stores are open. For the full fiscal year, VF Corp. is guiding for revenue in the range of $9.1 billion to $9.2 billion, up from previous guidance of at least $9.0 billion. The company is also guiding for adjusted EPS of $1.30, which includes 5 cents per share from the newly-acquired Supreme brand. The FactSet consensus is for revenue of $9.196 billion and EPS of $1.34. VF Corp. stock is up 3.2% over the past year while the S&P 500 index /zigman2/quotes/210599714/realtime SPX +1.95% is up 18.7% for the period.

$ 78.77
+1.07 +1.38%
Volume: 2.60M
March 5, 2021 4:00p
P/E Ratio
Dividend Yield
Market Cap
$30.86 billion
Rev. per Employee
+73.47 +1.95%
Volume: 3.33B
March 5, 2021 5:44p

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