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VF Corp Beats Quarterly Revenue Estimates

The apparel and footwear company exceeded revenue projections by around 6 percent in its first quarter.
The North Face x Supreme Spring/Summer 2016 | Source: Supreme
By
  • Reuters

GREENSBORO, United States — VF Corp's quarterly revenue beat Wall Street expectations on Wednesday, helped by higher demand for its Vans sneakers and the North Face brand.

Net revenue rose 6.3 percent to $2.27 billion in the first quarter, beating analysts' estimate of $2.24 billion, according to IBES data from Refinitiv.

Net income fell to $49.2 million, or 12 cents per share, in the quarter ended June 29, from $160.4 million, or 40 cents per share, a year earlier, primarily due to the spin-off of its less profitable jeans business in May.

By Soundarya J; editor Maju Samuel.

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