VF Reports Q1 Earnings Beat, Raises Guidance

Footwear company VF Corporation VFC reported first-quarter earnings of 3 cents per share, which met the analyst consensus estimate. This is a 55.22% decrease over earnings of 67 cents per share from the same period last year.

The company reported quarterly sales of $2.271 billion, which beat the analyst consensus estimate of $2.24 billion by 1.38%. This is a 25.42% decrease over sales of $3.045 billion the same period last year.

The company raised its 2020 adjusted EPS guidance from $3.30-$3.35 to $3.32-$3.37 versus a $3.37 estimate.

VF Corporation shares were trading up 3.09% at $91 in Wednesday’s pre-market session. The stock has a 52-week high of $97.00 and a 52-week low of $67.18.

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