VF Corp. (VFC) Tops Q1 EPS by 4c: Lifts Outlook

VF Corp. (NYSE: VFC) reported Q1 EPS of $0.67, $0.04 better than the analyst estimate of $0.63. Revenue for the quarter came in at $2.8 billion versus the consensus estimate of $2.76 billion.

VF Corp. sees FY2014 EPS of about $3.06, versus the consensus of $3.06. Revenues for 2014 are now expected to increase at the high end of the previously provided 7 to 8 percent range. Second quarter revenues are expected to increase at a similar level to that of the first quarter, and again be driven primarily by strength from our Outdoor & Action Sports coalition. For the full year, Outdoor & Action Sports coalition revenues are now expected to be up 12 to 13 percent. Full year gross margin and operating margin expectations of 49 percent and 15 percent, respectively, remain unchanged.

“VF’s first quarter results reflect the continued strength of our brands and our global business platforms,” said Eric Wiseman, VF Chairman, President and Chief Executive Officer. “Led by outstanding performance from the Outdoor & Action Sports coalition, which had balanced growth across all channels and geographies, we delivered strong growth in revenue and profitability. Looking towards the balance of 2014 – we are confident in our business plan and look forward to delivering another record year for our shareholders.”

For earnings history and earnings-related data on VF Corp. (VFC) click here.

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