Shares of Vans and The North Face parent VF Corp. tumbled 7.1% in premarket trading Friday, after the apparel, footwear and accessories company reported fiscal fourth-quarter earnings that missed expectations, as the COVID-19 pandemic reduced consumer demand. VF swung to a net loss of $483.8 million, or $1.22 a share, from net income of $128.8 million, or 32 cents a share, in the year-ago period. Excluding non-recurring items, such as the impact of tax legislation in Switzerland, adjusted earnings per share came to 10 cents, below the FactSet consensus of 18 cents. Revenue fell 11% to $2.10 billion, missing the FactSet consensus of $2.36 billion. Outdoor revenue, which includes North Face, fell 15% to $848.3 million, below the FactSet consensus of $919.9 million, and active revenue, which includes Vans, declined 9% to $1.03 billion to miss expectations of $1.07 billion. VF said it could not provide financial guidance given the uncertainties associated with COVID-19. Separately, the company declared a regular dividend of 48 cents a share, payable June 22 to shareholders of record on June 10. The stock has plunged 33.7% over the past three months through Thursday, while the S&P 500 has lost 15.6%.
‘They are giving up tobacco in view of the remunerative market for ginger’
The Dividend Guy joins us to talk about how his focus on dividend growth is adjusting for the current market.He talks about stories where his thesis is challenged by the COVID-19 environment and the changes he's made as a result.He also discusses what's behin…
COVID-19: Inland v. Coast; Disney; Blizzard; Del Taco Orange County Business Journal
On Thursday, Cowen provided investors an update on athletics brands and retailers. The firm has an outperform rating on Lululemon, Nike, and Adidas, and is more neutral on peers VFC, Puma and Under Armour. For Lululemon specifically, the firm found that Google search trends are showing the biggest acceleration in history. The Final Round panel discusses the state of "athleisure" amid coronavirus.
COVID-19 and its impact on the U.S. economy will continue to take centerstage in the week ahead.
Yahoo Finance's Alexis Christoforous and Brian Sozzi speak to VF Corporation CEO Steve Rendle about the current state of retail, future of e-commerce and the potential of merger and acquisitions.
V.F. (VFC) delivered earnings and revenue surprises of 433.33% and 3.67%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
V.F. Corp will provide insight into footwear
PVH's debt-to-EBITDA ratio is at 3, almost triple that of its competitors.The men's business could be a highlight in the business as it is more price competitive and it has the brand asset behind it.They are a premium retailer with a financially challenged co…
CVET earnings call for the period ending March 31, 2020.
Thought a record plunge in employment would take stocks down? Not even close. The S&P 500 rallied over 1.5% in the stock market today, while the Nasdaq its highest level since February.At this point, investors shouldn't be surprised. We've seemingly rallied on every poor weekly jobless claims report, and barely flinched from this week's negative ADP jobs report or last month's disappointing labor statistics.The highly anticipated April's job report is finally here. While the non-farm payrolls numbers came in a little better than expected, it was still a massive decline. The economy suffered a loss of 20.5 million jobs versus estimates for a loss of 22 million. The unemployment rate hit a whopping 14.7%, but was still better than the estimated 16%.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThere is a silver lining here. Of the 20.5 million job losses, 17.8 million workers were on temporary leave. So while there are a lot of people out of work right now, it's expected to be short-term job losses. Once the economy begins to reopen, not everyone will regain their employment, but there should be a rebound in the labor market as well. The Week AheadLast week it was mega-cap tech. This week it was high-growth stocks. Despite the volatility, earnings will go on. * 7 "Strong Buy" Healthcare Stocks to Buy Now We'll hear from Under Armour (NASDAQ:UA), Cardinal Health (NYSE:CAH) and Marriott International (NASDAQ:MAR) on Monday.Later in the week we'll hear from Honda (NYSE:HMC), Wix (NASDAQ:WIX), Norwegian Cruise (NYSE:NCLH), JD.com (NASDAQ:JD) and VFC Corp (NYSE:VFC), among others. Movers in the Stock Market TodayDemand for Disney (NYSE:DIS) is in full effect as tickets to Shanghai Disneyland sold out for its reopening. After a three-month shutdown from the coronavirus outbreak, the park will be reopening at 30% its normal capacity -- 24,000 people. The opening will involve safety measures such as masks, temperature screenings and social distancing.Rosenblatt is optimistic on Disney as the company begins reopening some of its retail shops in Florida, too. While the company isn't opening up those theme parks yet, it's a step in the right direction.Tesla (NASDAQ:TSLA) plans to restart its Fremont operations as soon as today. The Fremont plant has been shut down since March 23 due to the pandemic and California Governor Gavin Newsom finally gave the okay for some manufacturers to resume certain operations.Along with several other retailers, J.C. Penney (NYSE:JCP) isn't doing so hot. The company is expected to file for bankruptcy as soon as next week. Reportedly, J.C. Penney will close roughly a quarter of its stores. While JCP has been out of its glory days for some time, shares hit a new all-time low on Friday near 16 cents.Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG) announced that most of its employees will continue to work from home until 2021. This could become a common practice for the next few months with several companies. Even though Facebook (NASDAQ:FB) offices will eventually begin to reopen, the company also said that it will allow most of its employees to work from home until next year if they choose.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long DIS and GOOGL. More From InvestorPlace * America's 1 Stock Picker Reveals Next 1,000% Winner * 25 Stocks You Should Sell Immediately * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post Stock Market Today: Record Labor Contraction; J.C. Penney on the Brink appeared first on InvestorPlace.
VF Corporation (NYSE: VFC) might soon take a double-digit hit to its stock price, if a recent analyst prognostication comes true. On Monday, Deutsche Bank's Paul Trussell lowered his price target on the stock, to $49 per share, while maintaining his hold recommendation on the stock. Like many consumer goods companies trying to maintain their businesses during the SARS-CoV-2 coronavirus outbreak, VF had fallen out of favor somewhat with investors.
COVID-19: Cases Rise; Newsom's Friday; BJ's $70M Orange County Business Journal
Shares of VF Corp. dropped Friday as the owner of North Face outdoor apparel and gear took a hit from the coronavirus economic shutdown.
VF Corporation (NYSE: VFC) reported fourth-quarter adjusted earnings of 10 cents per share, which missed the analyst consensus estimate of 13 cents by 23%. This is an 83.3% decrease over earnings of 60 cents per share from the same period last year.The company reported quarterly sales of $2.1 billion, which missed the analyst consensus estimate of $2.31 billion by 9%. This is a 34.6% decrease over sales of $3.213 billion the same period last year."Through the first ten months of fiscal 2020 our business delivered results above our stated long-term growth objectives. Then the world changed for all of us as a result of COVID-19," said Steve Rendle, CEO of VF Corp."From the early days of the outbreak VF has taken a people-first approach in our COVID-19 response, prioritizing the health and safety of our people, while also protecting their financial well-being. As we've implemented measures to care for and protect our people, we've also taken several key actions to advance our Enterprise Protection Strategy," Rendle said.View more earnings on VFCVF Corporation shares were trading down 7.20% at $51.45. The stock has a 52-week high of $100.25 and a 52-week low of $45.07.Related links:VF Corporation Shares 2024 Guidance PlansVF Reports Q1 Earnings Beat, Raises GuidanceSee more from Benzinga * JD.com Reports Q1 Earnings Beat * Why Medtronic's Stock Is Trading Lower Today * Why Tutor Perini's Stock Is Trading Lower Today(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
COVID-19: New Cases; BlizzCon Nixed; JWA Orange County Business Journal
VFC earnings call for the period ending March 31, 2020.
Yahoo Finance catches up with V.F. Corp CEO Steve Rendle to discuss how the owner of Timberland and Vans is navigating the chopping retail environment.
The panic around COVID-19 may have started back in Q1, but the effects of the preventative shutdown measures continue to be felt and cause panic for the future.
Brooklyn, NY, May 13, 2020 (GLOBE NEWSWIRE) -- - Cemtrex (Nasdaq: CETX, CETXP, CETXW) announced today that it has received an order from VF Corporation (VFC) to build a virtual reality (VR) application. The VR application is aimed for corporate and third party use around creating better retail experiences for customers. The application also provides training solutions for VF Corp’s employees and its retail partners.
While the tone of first-quarter earnings isn’t particularly encouraging, the pace of reports will finally relax in the week ahead, which is reason enough to breathe a sigh of relief.
If you’re like many investors these days, you’re warily eyeing your portfolio, wondering where the next dividend cut will come from.
V.F. Corp's (VFC) fourth-quarter fiscal 2020 results bear the brunt of the lower demand due to the coronavirus pandemic. The company withholds guidance for fiscal 2021 on prevailing uncertainty.
"S&P 500® Dividend Aristocrats measure performance of S&P 500 companies that have increased dividends every year for 25 consecutive years." - us.spindices.com.The 64 Aristocrats for May 2020 represent 10 of 11 Morningstar Sectors (no Technology). Broker targe…
As American retail reopens, it’s once again an odd mosaic of who is choosing to get back in the store business…and who is still sitting it out for a while longer
The Taxable account generated $952.22 of dividends in April of 2020 compared with $846.78 of dividends in April of 2019.A total of two stocks/funds in the Taxable portfolio paid increased dividends or paid a special dividend during the month of April.April wa…
Inadequately vaccinated children may be at risk for other serious infectious diseases, such as measles, experts say.
V.F. (VFC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
VF Reports Fourth Quarter and Full Year Fiscal 2020 Results
VFC earnings call for the period ending March 31, 2020.
This article is part of our monthly series where we highlight five companies that are large cap, relatively safe, dividend paying, and are offering large discounts to their historical norms.These are not normal times, so we adjust our strategy a little bit to…
Q4 2020 VF Corp Earnings Call
The company did not provide a financial outlook for the fiscal year.
The market's collapse was bolstered by leverage.There are significant amounts of money waiting on the sidelines.My Canadian account shows a variation of +$7,494 (+18%) since the last income report on April 6th.The US total value account shows a variation of +…
Earnings and revenue missed expectations Continue reading...
V.F. Corp's (VFC) fourth-quarter fiscal 2020 performance is expected to have been marred by store closures across North America since mid-March and in China from February through March.
The U.S. death toll from the coronavirus that causes COVID-19 rose above 85,000 on Friday, as new outbreaks were reported from states where stay-at-home orders are set to expire and in states that never imposed them, raising concerns that the reopening of eco…
With COVID-19 uncertainties everywhere, many companies are suspending share buybacks and some companies are cutting or suspending their dividends.Dividend cuts are mostly concentrated within oil/gas, aviation, tourism, and hospitality.The Dividend Sustainabil…