VF Corp. 3Q Revenue, EPS Rise
January 23 2020 - 8:22AM
Dow Jones News
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)
Copyright (c) 2020 Dow Jones & Company, Inc.
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