V.F.: Fiscal 1Q Earnings Snapshot
GREENWOOD VILLAGE, Colo. (AP) _ V.F. Corp. (VFC) on Friday reported a fiscal first-quarter loss of $285.6 million, after reporting a profit in the same period a year earlier.
The Greenwood Village, Colorado-based company said it had a loss of 73 cents per share. Losses, adjusted for non-recurring costs and to account for discontinued operations, came to 57 cents per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 68 cents per share.
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The maker of brands such as Vans, North Face and Timberland posted revenue of $1.08 billion in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $960.3 million.
V.F. shares have dropped 39% since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has dropped 31% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VFC at https://www.zacks.com/ap/VFC
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The Associated Press
