Vans owner VFC sees its stock soar 18% on earnings beat, improved outlook
), the parent company of The North Face and Vans, saw its stock surge 18% after reporting better-than-expected second-quarter earnings and providing an improved outlook for the third quarter.
VF Corp's performance showed broad-based sequential improvement compared to the first quarter. The North Face brand saw a 3% decline in sales, while Vans experienced an 11% drop, both marking improvements from the previous quarter's results. The company's gross margin improved by 120 basis points to 52.2% compared to the same period last year. However, the operating margin decreased by 210 basis points to 9.9%.
The company also announced a quarterly dividend of $0.09 per share, payable on December 18, 2024, to shareholders of record as of December 10, 2024.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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