LONDON, UK / ACCESSWIRE / July 31, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on V.F. Corp. (NYSE: VFC) ("VFC"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=VFC, following the Company's disclosure of its financial results on July 24, 2017, for the second quarter fiscal 2017. The Company's earnings and revenue numbers surpassed market estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Textile - Apparel Clothing industry. Pro-TD has currently selected Columbia Sportswear Company (NASDAQ: COLM) for due-diligence and potential coverage as the Company announced on July 28, 2017, its financial results for Q2 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Columbia Sportswear when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on VFC; also brushing on COLM. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

For the three months ended July 01, 2017, VFC's total revenue increased 1.7% to $2.36 billion on a y-o-y basis from $2.32 billion in Q2 FY16. The total revenue surpassed analysts' expectations by $70 million.

For the reported quarter, VFC's gross margin increased 80 basis points to 49.7% of sales from 48.9% of sales in Q2 FY16. During Q2 FY17, VFC's selling, general, and administrative expenses (SG&A) increased 5.9% to $1.00 billion from $940.80 million in the prior year's same quarter. For the reported quarter, VFC's operating margin decreased 130 basis points to $7.1% of sales from 8.4% of sales in Q2 FY16. The decrease included a 70 basis points effect of foreign exchange.

During Q2 FY17, VFC reported net income of $109.9 million, or $0.27 per share, up from $51.0 million, or $0.12 per share, for Q2 FY16. For the reported quarter, the Company's adjusted diluted EPS decreased 9.4% to $0.29 on a y-o-y basis from $0.32 in Q2 FY16. The EPS surpassed analysts' expectations of $0.28.

On June 09, 2017, VFC's Board of Directors declared a quarterly dividend of $0.42 per share, payable on September 18, 2017, to shareholders of record on September 08, 2017.

Segment Details

Outdoor & Action Sports - During Q2 FY17, this segment's revenue increased 3.5% to $1.47 billion from $1.41 billion in Q2 FY16. For the reported quarter, the segment's profit decreased 1% to $121.77 million from $123.25 million in Q2 FY16.

Jeanswear - During Q2 FY17, this segment's revenue decreased 4.5% to $600.81 million from $629.18 billion in Q2 FY16. For the reported quarter, the segment's profit decreased 22% to $84.76 million from $108.84 million in Q2 FY16.

Imagewear - During Q2 FY17, this segment's revenue increased 11.3% to $150.01 million from $134.83 million in Q2 FY16. For the reported quarter, the segment's profit increased 4.8% to $25.57 million from $24.38 million in Q2 FY16.

Sportswear - During Q2 FY17, this segment's revenue increased 2.1% to $114.26 million from $114.88 million in Q2 FY16. For the reported quarter, the segment's profit increased 80% to $11.35 million from $6.30 million in Q2 FY16.

Balance Sheet

As on July 01, 2017, VFC's cash and cash equivalents were $672.54 million compared to $676.26 million in Q2 FY16.

During Q2 FY17, VFC's inventories increased 2.4% to $1.71 billion from $1.67 billion in Q2 FY16.

Outlook

For FY17, VFC is expecting total revenue to be $11.65 billion. The Company expects direct to consumer revenue to increase in the range of 10%-11% and estimates digital revenue growth to be more than 25%.

For fiscal 2017, VFC estimates gross margin to be 49.8%, including a 70 basis point negative impact from changes in foreign currency. The Company expects operating margin to be 14%, including a 60 basis point negative impact from changes in foreign currency.

For FY17, VFC estimates EPS to be $2.94 and cash flow from operations to be around $1.45 billion.

Chairmen to Retire

On July 24, 2017, in a separate press release, VFC announced that Eric C. Wiseman will retire as Executive Chairman of the Board and as a Director of VFC, effective October 28, 2017.

VFC's Board of Directors has elected President, Chief Executive Officer, and Director Steven E. Rendle, 58, to the role of Chairman effective upon Wiseman's retirement. Wiseman's retirement completes VFC's planned leadership succession which began with the promotion of Rendle to President and Chief Operating Officer in June 2015, and to CEO in January of 2017.

Stock Performance

On Friday, July 28, 2017, the stock closed the trading session at $61.85, climbing 1.71% from its previous closing price of $60.81. A total volume of 1.99 million shares have exchanged hands. V.F. Corp.'s stock price surged 13.22% in the last three months, 21.82% in the past six months, and 0.36% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have rallied 15.93%. The stock is trading at a PE ratio of 23.46 and has a dividend yield of 2.72%. At Friday's closing price, the stock's net capitalization stands at $24.35 billion.

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