Vans Parent VF Corp Beats Quarterly Revenue Estimates On Improving Demand
July 30 (Reuters) - VF Corp VFC.N beat first-quarter revenue estimates on Wednesday, helped by an uptick in demand for its apparel and footwear products, sending its shares up about 14% in premarket trading.
The Denver, Colorado-based company's efforts to introduce new collections across brands, including The North Face, helped boost sales, which had been declining over the past few quarters.
VF Corp, which relies heavily on Southeast Asian manufacturing, has been taking steps to soften the tariff impact, such as speeding up production and shipments into the U.S. during the 90-day pause, working with suppliers to cut costs and exploring strategic pricing moves.
The company's revenue of $1.76 billion beat estimates of $1.70 billion, according to data compiled by LSEG.
VF Corp posted a quarterly loss of 24 cents per share on an adjusted basis, compared with an estimated loss of 34 cents per share, owing to lower product costs and promotional activity.
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