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VF Corp. Sails Past Earnings Expectations as Vans Delivers Strongest Quarter in Two Years

VF Corp. has what all retailers want right now: a portfolio of thriving brands, and resilience in the face of macroeconomic pressures.
The company, which recently relocated to Denver from its former home of Greensboro, N.C., reported adjusted earnings per share of $1.31 on Friday before market open, soaring past the consensus estimate of $1.10. Its net revenue reached $3.94 billion, up 8 percent and beating Wall Street expectations of $3.87 billion.
Vans’ results for its fiscal third quarter were a particular highlight as they have been for the past several quarters. On a call with investors and analysts, Steve Rendle, VF’s chairman, president and CEO, called out the skate lifestyle brand for its “strongest quarter in the last two years,” pointing to 25 percent revenue growth (27 percent on a constant currency basis) over last year’s already strong sales, as well as 50 percent growth in the direct-to-consumer online channel.
“Vans has delivered another exceptional quarter of growth, further cementing their rightful place as the No. 3 global sport/lifestyle brand,” said Rendel. “While obviously a brand this size won’t grow at these exceptional rates forever, we have great confidence in their ability to sustain double-digit growth by relying on not just one

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Via:: https://footwearnews.com/2019/business/earnings/vf-corp-vans-q3-earnings-profit-1202732064/