Vans parent VF Corp. stock falls after earnings miss


VF Corp.

shares fell 2.4% in Friday premarket trading after the outdoor and active company reported fourth-quarter profit that missed expectations. Net income totaled $89.5 million, or 23 cents per share, after a loss of $483.8 million, or $1.22 per share, last year. Adjusted EPS of 26 cents missed the FactSet consensus for 29 cents. Revenue totaled $2.583 billion, up from $2.102 billion and ahead of the FactSet consensus for $2.509 billion. Brands in the VF Corp. portfolio include Vans, Timberland, The North Face and newly-acquired Supreme. VF Corp. says its supply chain is currently operational. Fewer than 5% of stores are closed in North America and about 20% of stores are temporarily shuttered in the EMEA region due to COVID-19. Nearly all of the VF Corp.-owned stores in the APAC region, including mainland China, are open. For full-year 2021, VF Corp. is guiding for revenue of $11.8 billion, up from $9.2 billion in 2020, and adjusted EPS of $3.05, up from $1.31 per share in 2020. The FactSet consensus is for revenue of $11.5 billion and EPS of $3.05. VF Corp. shares have slipped 0.7% for the year to date while the S&P 500 index

is up 10.7% for the period.

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