May 12, 2021

Vans & Timberland Parent Company Sees Sales Gains in Q2, Ups Outlook

VF Corp. today enjoyed a modest bump in shares in early morning trading after the firm announced second-quarter results that were better than expected. (As of 10:10 a.m. ET, shares dipped into the red, down 0.1 percent, to $58.57.)
The owner of Vans, Timberland, The North Face and other popular brands said its Q2 revenues gained 2 percent year-over-year, to $2.36 billion, topping analysts’ bets for revenues of $2.32 billion.
Reported net income advanced more than 100 percent, to 109.9 million, or 27 cents per share. Adjusted EPS was 29 cents, which bested market watchers’ forecasts for adjusted EPS of 28 cents.
VF noted that sales performance was particularly high across international business and in China (up 4 percent and 13 percent respectively); direct-to-consumer (up 13 percent); and at hero brands Vans (up 8 percent) and The North Face (up 5 percent).
“VF’s second quarter results were solid and consistent with our expectations, driven by strong results from our largest global brands, the company’s international and direct-to-consumer platforms, and our growing workwear businesses,” said president and CEO Steve Rendle in a release. “We have really good momentum as we move into the second half of 2017 and are confident in our growth engines.”
To that

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