VF Corporation (VFC) 2Q17 Results: Beats Consensus Estimates and Raises Guidance

Executive Summary

• VF Corporation reported 2Q17 EPS of $0.29, above the $0.28 consensus estimate. Revenues were $2.36 billion, up 1.7% year over year and above the $2.29 billion consensus estimate. Sales increased by 3% on a constant-currency basis in the quarter.
• Separately, the company announced the retirement of Executive Chairman Eric C. Wiseman, effective October 28. As part of a planned succession, Wiseman will be succeeded upon retirement by President and CEO Steven E. Rendle.
• The company also raised its full-year revenue guidance to $11.65 billion (from up by low single digits previously) and its EPS guidance to $2.94, up from $2.89–$2.94 previously.