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V.F. Corporation Message Board

  • hedgecutter10 hedgecutter10 May 19, 2011 3:58 PM Flag

    CEO SPEAKS

    CEO Interview: Eric Wiseman, VF Corp (VFC)

    Few things are more frustrating than when a company seems to report a good quarter and then gets punished. VF Corp (VFC) beat earnings by 10 cents with a 12% rise in revenues and gross margins up 47.2%. However, the stock dropped 8 points. What happened? VFC ran up too much ahead of the quarter and gave guidance. The Street thought it was too conservative. Is the sell-off a buying opportunity?

    CEO Eric Wiseman confessed he didn't understand the market's reaction to the quarter. One issue might have been worries over the company's inventories that were up 24%. However, Wiseman explained that this was intentional and the result of buying up inventory ahead to avoid high raw costs. When asked about the management's cautious tone on the conference call, Wiseman responded that he feels the company is being prudent and responsible with its guidance. China has been the largest growth country for VFC with a 56% increase in revenue in China since last year. The business in India is growing 80%. "All systems are go," said Cramer. "That is what we are looking for

 
VFC
61.88-0.61(-0.98%)2:38 PMEDT

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