Shares of VF Corp. rallied more than 6% in the extended session Tuesday after the maker of The North Face jackets and Jansport backpacks, among other outdoor...
Shares of VF Corp. rallied more than 6% in the extended session Tuesday after the maker of The North Face jackets and Jansport backpacks, among other outdoor apparel, reported third-quarter results that blew past Wall Street expectations and said it was exploring the sale of some assets and other actions to sharpen its focus. VF Corp. earned $508 million, or $1.31 a share, in the quarter, compared with $518 million, or $1.32 a share, in the year-ago period.
earned $508 million, or $1.31 a share, in the quarter, compared with $518 million, or $1.32 a share, in the year-ago period. Adjusted for one-time items, the company earned $1.12 a share. Revenue dropped 3% to $3.5 billion, the company said. Analysts polled by FactSet expected VF Corp. to report adjusted EPS of 26 cents a share on sales of $2.7 billion. “We are committed to improving execution through a sharpened focus,” Interim Chief Executive Benno Dorer said in a statement.
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