Home / Knowledge / News / Apparel/Garments / Q2FY17 EPS down 10.2% at VF Corp
Q2FY17 EPS down 10.2% at VF Corp
25
Jul '16
Earnings per share (EPS) for the second fiscal quarter ended July 2, 2016 at garment brands marketer VF Corp was $0.35, compared with $0.39 during the same period last fiscal, down 10.25 per cent.

“On a comparative basis, the second fiscal quarter of 2016-17 was negatively impacted by approximately $0.01 of net tax discretes while the comparable quarter of 2015-16 benefitted by $0.05 from net tax discrete,” the company explained.

“Excluding the negative impact of foreign currency, second quarter earnings per share was down 6 per cent,” it observed.

Revenue for the reporting quarter rose one percent year over year to $2.4 billion driven by positive results from its Outdoor & Action Sports, Jeanswear and Imagewear segments.

On a reported basis, gross margin was slightly up at 48.1 per cent in the quarter under review as against the second quarter of prior fiscal on a reported basis.

“This was achieved as benefits from lower product costs, pricing and mix were offset by changes in foreign currency and inventory management,” VF informed.

Operating income on a reported basis was down 3 per cent to $211 million compared with the same quarter of earlier period of earlier fiscal, while operating margin on a reported basis declined 40 basis points to 8.6 per cent.

VF Corp also revised the revenue guidance for the fill fiscal and now expects it to increase 3 to 4 per cent vis-à-vis the previous outlook of a mid-single-digit percentage rate increase. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Bangladesh garment exports rise 7.46% in July-Nov '17

Apparel/Garments | On 11th Dec 2017

Bangladesh garment exports rise 7.46% in July-Nov '17

Readymade garment exports from Bangladesh increased 7.46 per cent in...

Karl Mayer opens new workshop in Vietnam

Textiles | On 11th Dec 2017

Karl Mayer opens new workshop in Vietnam

Karl Mayer, Germany’s leading textile machinery firm, has announced...

Cotton USA promotes cotton at TITAS Taiwan tradeshow

Textiles | On 11th Dec 2017

Cotton USA promotes cotton at TITAS Taiwan tradeshow

Cotton USA, which promotes US cotton fibre and manufactured cotton...

Interviews View All

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search