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V.F. Corp Up On Q2 Earnings & Sales Beat, View Raised

V.F. Corporation (VFC - Free Report) released second-quarter 2017 results, wherein both top and bottom lines exceeded our estimates and sales also grew year over year. Notably, sales marked its first positive surprise after posting four straight misses. The solid first-half results also encouraged management to raise its outlook for full-year 2017.

The splendid quarter was well-received by investors, as shares of this branded apparel retailer jumped 2.3% in the pre-market trading session. Further, V.F. Corp.’s shares have jumped 9.9% year to date, outperforming the industry’s marginal rise of 0.3%.

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Q2 Numbers

The company’s quarterly earnings from continuing operations came in at 29 cents a share, which beat the Zacks Consensus Estimate by a penny. However, the bottom line plunged 11% year over year. On a currency neutral basis, earnings remained flat year over year.

V.F. Corporation Price, Consensus and EPS Surprise

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V.F. Corporation Price, Consensus and EPS Surprise | V.F. Corporation Quote

V.F. Corp. generated total revenue, including royalty income, of $2,359.6 million that increased about 2% year over year and surpassed the Zacks Consensus Estimate of $2,289.6 million.Net sales of $2,333.3 million also advanced 2% from the prior-year quarter. On a currency neutral basis, revenues jumped 3%. Revenues in the quarter gained from strength in international and direct-to-customer platforms, the Outdoor & Action Sports coalition and the company’s workwear business.

The company’s reported gross margin increased 80 basis points (bps) to 49.7%, thanks to gains...


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