VF Corp. (NYSE:VFC) Wei Fu Group Exceeded Expectations In The Two Quarter

According to the world clothing and shoe net, recently, the VF Corp. (NYSE:VFC) Wei Fu group exceeded expectations in the two quarter. As of the two quarter of July 1st, the Group recorded a profit of $0.27 per share, up 127% from 0.12 dollars a year earlier, adjusted 0.29 US dollars, a 12% decline compared with the same period last year, but still surpassed the expected US $0.28 of Zacks.

Group CEO and CEO Steve Rendle said in the earnings report, "benefit from the big."

International business and direct channel performance, business stabilisation in the two quarter also boosted confidence for growth in the second half.

In the two quarter, the largest outdoor and extreme sports brand Department of VF Corp., the largest outdoor and extreme sports brand, earned $1 billion 466 million 200 thousand, an increase of 3.8% over the same period last year. The fixed exchange rate increased by 5%. The fixed exchange rate two major brands Vans and The North Face respectively increased by 9% and 6% respectively. Third big brands, Timberland, Vans, and Tim Pak LAN business recorded a 3% increase in business stability; during the downturn, the earnings of cowboy business were 600 million 800 thousand dollars, down from the US dollar in the same period last year, and the fixed exchange rate declined.

In the two quarter, the group's total revenue was $2 billion 359 million 600 thousand, an increase of 1.7% over the same period last year of $2 billion 320 million 500 thousand, and also surpassed Zacks's expected $2 billion 290 million, of which sales revenue was 2 billion 333 million 300 thousand US dollars, the same growth rate was 1.7%.

As of the two quarter of July 1st, the growth rate of VF Corp. Corp. Trading Group recorded a 13% increase, offset 3% of wholesale business, 14% of fixed line business revenue and 2% of wholesale business.

It is still the best performing regional market for VF Corp., the two quarter revenue growth of 13% and fixed exchange rate of 18%, faster than the 10% in the first quarter.

At the end of March, the group's "5 year plan" included one of the core strategies of "highly concerned about the Chinese market". In 2016, the group's fixed exchange rate in the Chinese market increased by 10%.

The gross profit margin of the group rose to 49.7% at the 80 base point in the two quarter, while the operating margin recorded a 130 base point drop to 7.1%, operating profit of 168 million US dollars, a drop of 13.7% over the same period of 2016 in the same period of 2016 fiscal year, of which the core outdoor and extreme sports sector's operating profit was 121 million 800 thousand dollars, compared with the previous year's 123 million 300 thousand dollars.

VF Corp. is expected to earn $11 billion 650 million a year, an annual increase of 2% and an increase of 3% in fixed exchange rate. It is expected that the revenue growth of outdoor and extreme sports departments will be 5%, the fixed exchange rate will increase by 6-7%, and the expected growth rate of direct business revenue will be 10-11%, of which the electricity business is expected to grow by 25%.

The Group expects gross profit margin of 49.8% to be improved by 40 basis points throughout the year, with a flat operating profit of 14% last year. Earnings per share are expected to be 2.94 US dollars, down 1%, and the fixed exchange rate has increased by one digit.

On Monday, VF Corp. group announced that group chairman Eric C. Wiseman would retire in October 28th and become a director only. The group is currently CEO Steven Rendle, and will take the top three positions.

VF Corp.

Shares closed at $58.65 on Friday, a 1.63% gain. So far this year, the stock has risen by 9.93%, slightly less than the 10.44% increase in the S & P 500 index.

More attention should be paid to the world clothing shoes and hats net.