Yahoo Finance VF Corp (VFC) Reports Earnings Tomorrow: What To Expect
Lifestyle clothing conglomerate VF Corp (NYSE:VFC) will be reporting earnings tomorrow after market close. Here's what investors should know.
VF Corp missed analysts' revenue expectations by 8.9% last quarter, reporting revenues of $2.96 billion, down 16.2% year on year. It was a weak quarter for the company, with a miss of analysts' revenue and earnings estimates.
Is VF Corp a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting VF Corp's revenue to decline 12% year on year to $2.41 billion, a further deceleration from the 3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.01 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. VF Corp has missed Wall Street's revenue estimates three times over the last two years.
Looking at VF Corp's peers in the apparel, accessories and luxury goods segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Columbia Sportswear's revenues decreased 6.2% year on year, beating analysts' expectations by 3.6%, and Figs reported flat revenue, topping estimates by 1.6%. Columbia Sportswear traded up 1.3% following the results while Figs was down 4.4%.
Read our full analysis of Columbia Sportswear's results here and Figs's results here.
There has been positive sentiment among investors in the apparel, accessories and luxury goods segment, with share prices up 5.6% on average over the last month. VF Corp is down 3.2% during the same time and is heading into earnings with an average analyst price target of $18 (compared to the current share price of $12.38).
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