VF Corp. Lifts FY19 Outlook

(RTTNews) - VF Corp. (VFC) said that it increased its fiscal year 2019 outlook.Earnings per share is now expected to be in the range of $3.52 to $3.57, reflecting an increase of 12 percent to 14 percent, and includes about a $0.06 negative impact from unfavorable foreign currency exchange rates relative to the prior outlook. This compared to the previous expectation of $3.48 to $3.53, which reflected an increase of between 11 percent and 13 percent.

Revenue is now expected to be in the range of $13.6 billion to $13.7 billion, reflecting an increase of 10 percent to 11 percent, and includes more than a $150 million negative impact from unfavorable foreign currency exchange rates relative to the prior outlook. This compares to the previous expectation of revenue between $13.45 billion and $13.55 billion, which reflected a 9 percent to 10 percent increase. By segment, revenue for Outdoor is expected to increase 6 percent to 8 percent; revenue for Active is expected to increase 13 percent to 14 percent; revenue for Work is expected to increase more than 35 percent; and, revenue for Jeans is expected to be about flat compared to the prior year.

Analysts polled by Thomson Reuters expect the company to report earnings of $3.57 per share and revenues of $13.56 billion for fiscal year. Analysts' estimates typically exclude special items.

VF's Board of Directors declared a quarterly dividend of $0.46 per share, payable on September 20, 2018 to shareholders of record on September 10, 2018.