Branded lifestyle apparel maker VF Corp.'s (VFC) fourth-quarter GAAP net income attributable to the company climbed to $334.17 million, or $2.98 per share, from $257.32 million, or $2.28 per share a year earlier.
Adjusted net income totaled $344.39 million, or $3.07 per share in the quarter. On average, 18 analysts polled by Thomson Reuters expected earnings per share of $3.03 for the quarter. Analysts' estimates typically exclude one-time items.
Revenues went up 4 percent, and by 5 percent in constant dollars, to $3.0 billion, from $2.9 billion in the same period of 2011, driven by strength in the Outdoor & Action Sports and Sportswear coalitions, and in the company's international and direct-to-consumer businesses. The John Varvatos sale in April 2012 affected VF's revenue growth by 1 percentage point in the fourth quarter. Analysts estimated revenues of $3.07 billion for the quarter.
Looking ahead to 2013, adjusted earnings per share are expected to grow 11% to $10.70, while GAAP earnings per share are likely to increase 9 percent to about $10.60. Sales for the year were anticipated to increase by about 6 percent to $11.5 billion, including growth in every coalition. Analysts project earnings of $10.95 per share, on $11.86 billion revenue for 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.