|Bid||83.47 x 1000|
|Ask||83.49 x 900|
|Day's Range||82.26 - 83.65|
|52 Week Range||76.77 - 100.25|
|Beta (5Y Monthly)||0.97|
|PE Ratio (TTM)||25.98|
|Earnings Date||Jan 22, 2020|
|Forward Dividend & Yield||1.92 (2.25%)|
|Ex-Dividend Date||Mar 08, 2020|
|1y Target Est||98.50|
V.F. Corp's (VFC) management trims top-line guidance for fiscal 2020, following its third-quarter fiscal 2020 results wherein the bottom line beat the consensus mark while sales missed.
The company overcame the brand issues and a soft U.S. holiday market to post a "strong" quarter
U.S. stock indexes fell on Thursday, as mounting worries over a coronavirus outbreak in China, disappointing corporate earnings and weakness in financial stocks prompted investors to hit the brakes after a strong start to the year. China put on lockdown two cities at the epicentre of the outbreak that has killed 17 people and infected nearly 600 amid fears the transmission rate will accelerate as hundreds of millions of Chinese travel for the Lunar New Year holidays. Fears of the fast-spreading coronavirus hitting the global economy have knocked world stock markets off record highs this week, even as U.S. earnings reports so far have mostly been in line with expectations.
Vans, the company's biggest brand, posted its slowest revenue growth in two years at 12% in the third quarter, amid new launches that included a sneaker line inspired by skater Anthony van Engelen. The outdoor segment, which includes Timberland and The North Face brands, reported revenue of $1.66 billion, missing the average analyst estimate of $1.7 billion. Timberland, a brand VF calls one of its "top four," was particularly hit, falling 5% globally due to weakness in online sales, leading the company to cut its full-year revenue forecast for the business.
V.F. (VFC) delivered earnings and revenue surprises of 1.65% and -1.09%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Vans parent VF Corp. shares fell 1.7% in premarket trade Thursday, after the company posted weaker-than-expected sales for the third quarter. The company said it had net income of $465.0 million, or $1.16 a share, in the quarter, after income of $463.5 million, or $1.16 a share, in the year-earlier period. Adjusted per-share earnings came to $1.23, ahead of the $1.21 FactSet consensus. Revenue rose to $3.385 billion from $3.228 billion, just below the FactSet consensus of $3.433 billion. The company, which also owns the Timberland brand, completed the spinoff of its jeans business in May, including Wrangler, Lee and Rock & Republic brands, as well as the VF Outlet business, which was spun off into a separate traded company under the name Kontoor Brands Inc. On Tuesday, the company said it is reviewing strategic options for some of its work brands, which make uniforms and work clothing for American workers. It now expects fiscal 2020 revenue from continuing operations of about $11.75 billion and adjusted EPS of $3.30. The FactSet consensus is for EPS of $3.37 and revenue of $11.85 billion. Shares have gained 21% in the last 12 months, while the S&P 500 has gained 26%.
Apparel maker VF Corp cut its full-year revenue and profit forecast on Thursday after missing Wall Street estimates for third-quarter revenue, dragged by weak demand for its Timberland brand. The company now expects to post annual revenue of $11.75 billion, compared with its prior forecast of $11.8 billion. It also expects adjusted profit per share to be about $3.30, compared with its prior range of $3.32 to $3.37.
VF Corp. was trading lower Thursday after the company reported third-quarter sales fell below estimates and earnings that topped expectations. The company also reported adjusted earnings of $1.23 a share, topping estimates of $1.21. For the fiscal year, the company now expects to report revenue of $11.75 billion, falling short of its own previous guidance of revenue of $11.8 billion and consensus estimates of $11.83 billion.
Earnings season is in full swing and several heavyweights are gearing up to report results Thursday including consumer staples giant Procter & Gamble and chipmaker Intel.
V.F. Corp (VFC) is on track with its portfolio optimization plan. The company looks for strategic alternatives for its key nine brands in the Work segment.
VF Corp said on Tuesday it was starting a review for nine workwear brands that target businesses, including Red Kap and Bulwark, as the apparel maker looks to focus on its retail-oriented brands such as Vans. The company said the brands under review represented about $865 million of its total fiscal 2019 revenue of $13.85 billion and about 50% of the workwear segment's sales. It also said divesting the brands, including VF Solutions that sells uniform to businesses and governmental organizations, would give it financial flexibility to plan future divestments.
Vans and Timberland parent VF Corp. said Tuesday it has hired Barclays as financial adviser as it explores strategic options for the occupational part of its work segment. At stake are nine brands and businesses including Red Kap, that make uniforms and other work clothing for workers in the industrial, service and government sectors. Together, they accounted for about $865 million of the company's 2019 revenue of $13.8 billion. "Divesting these brands would leave VF with a simplified portfolio of higher-growth, consumer-focused brands, while providing financial flexibility to fuel further strategic initiatives and enhance shareholder value," Chief Executive Steve Rendle said in a statement. The review does not include the Dickies and Timberland Pro brands. VF Corp. shares were up 0.8% in premarket trade and have gained 22% in the last 12 months, while the S&P 500 has gained 25%.
VF Corporation to explore strategic alternatives for the occupational portion of its work segment.
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V.F. (VFC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The Vans Skate Space 198 is officially open to the public, designed with New York skaters in mind to eliminate the need to brave the cold to practice year-round. The new indoor facility is located in the rich, cultural enclave of Bushwick in Brooklyn, NY, right off the L's Jefferson stop in Bushwick.
V.F. Corp's (VFC) third-quarter fiscal 2020 performance is likely to have been negatively impacted by softness in Timberland and Dickies brands.