VFC VF Corporation

By Michael Dabaie

VF Corp. (VFC) on Thursday reported an increase in third quarter revenue and earnings per share from continuing operations.

The lifestyle apparel and footwear company said revenue from continuing operations increased 5% to $3.4 billion. That was in-line with the FactSet consensus forecast for $3.4 billion.

The company said revenue was driven by VF's largest brands and International and Direct-to-Consumer platforms.

Earnings per share from continuing operations were $1.13, up from $1.02 in the prior-year period.

Adjusted EPS from continuing operations was $1.23.

In May, VF completed the spin-off of its Jeans business, which included the Wrangler, Lee and Rock & Republic brands, as well as the VF Outlet business, into independent, publicly traded company Kontoor Brands Inc.

Earlier this week, VF said it is reviewing strategic alternatives for the occupational portion of its Work segment. The occupational portion consists of nine brands and businesses: Red Kap, VF Solutions, Bulwark, Workrite, Walls, Terra, Kodiak, Work Authority and Horace Small. The review doesn't include the Dickies and Timberland PRO brands, the company said.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

January 23, 2020 08:07 ET (13:07 GMT)

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