While reporting its fourth-quarter financial results today, VF Corp. (VFC) provided its financial outlook for fiscal 2017.
The company forecast fiscal 2017 earnings per share to be down at a low single-digit percentage rate compared to 2016 adjusted earnings per share of $3.11.
In addition, the company forecast full-year revenue to increase at a low single-digit percentage rate including a 2 percentage point negative impact from changes in foreign currency.
On average, analysts polled by Thomson Reuters expect earnings of $3.32 per share for the year on revenues of $12.62 billion. Analysts' estimates typically exclude special items.
VF Corp. also projects 2017 gross margin to be 48.6 percent, which includes a 70 basis point negative impact from changes in foreign currency.
by RTT Staff Writer
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