DENVER (AP) _ V.F. Corp. (VFC) on Friday reported fiscal first-quarter net income of $324.2 million, after reporting a loss in the same period a year earlier.
The Denver-based company said it had net income of 82 cents per share. Earnings, adjusted to account for discontinued operations and non-recurring gains, came to 27 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The maker of brands such as Vans, North Face and Timberland posted revenue of $2.19 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $2.17 billion.
V.F. shares have fallen 1% since the beginning of the year, while the S&P's 500 index has climbed 18%. The stock has climbed 37% in the last 12 months.
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
Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News