V.F. Corp Offers Weak Outlook For 2017 After Reporting Mixed Q4 Results
V.F. Corp (NYSE:VFC) early Friday [Feb 17,2017 | 6:58am] posted mixed fourth quarter earnings results and offered a tepid outlook for 2017, as some of its major brands begin to struggle.
Written by StockNews.com
The Greensboro, NC-based apparel giant reported Q4 EPS of $0.97, which was in-line with the Wall Street consensus estimate of $0.97. Revenues fell 0.2% from last year to $3.32 billion, however, missing analysts’ view for $3.43 billion.
VF Corp noted that its international and direct-to-consumer platforms stood out on the upside in the latest period, as did its Vans shoe and apparel brand.
Looking ahead, VFC offered a much weaker than expected outlook for 2017. The company forecast full-year EPS falling in the low single-digits from 2016’s level of $3.11. In contrast, analysts are looking for much higher earnings of $3.31 per share for the year.
It also expects revenues to rise at low single-digit percentage rate, while Wall Street sees a +5.6% growth rate.
The company commented via press release:
“VF’s global business model, diverse brand portfolio and focused operational discipline helped the company deliver solid results in 2016 despite an inconsistent U.S. marketplace,” said Eric Wiseman, Executive Chairman of the Board. “We’re pleased with the improved quality of our revenue, which reflects continued growth in our international and direct-to-consumer platforms, and our strong gross margin and cash generation performance that enabled us to return a record $1.6 billion to our shareholders. Looking forward, I expect the strategic and operational actions we are taking to generate even stronger long-term value for our shareholders.”
...Year-to-date, VFC has declined -5.59%, versus a 5.01% rise in the benchmark S&P 500 index during the same period.
VFC currently has a StockNews.com POWR Rating of C (Neutral), and is ranked #21 of 67 stocks in the Fashion & Luxury category.
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