* Q2 adj EPS $1.11 vs est $0.94
* Sees FY 2012 adj EPS $9.50 vs est $9.48
* Shares up 2.4 percent before the bell
July 19 VF Corp posted a
higher-than-expected quarterly profit on lower product costs and
strong demand for its outdoors and sports wear, and the company
raised its full-year profit forecast.
Shares of the company rose 2.4 percent Thursday in
The owner of The North Face, Wrangler, Lee and Timberland
brands now expects to earn $9.50 per share for the full year on
an adjusted basis, 5 cents more than its previous prediction.
VF has bested Wall Street's quarterly profit estimates for
more than two years in a row. For the second quarter ended June
30, the company earned $155.3 million, or $1.40 per share, up
from $129.4 million, or $1.17 per share, last year.
On an adjusted basis, the company earned $1.11 per share,
beating analysts' expectations of 94 cents a share, according to
Thomson Reuters I/B/E/S.
Gross margin rose slightly to 46.1 percent from 45.9 percent
as the impact of higher jeans wear product costs eased.
Revenue rose 16 percent to $2.14 billion.
Shares of the company closed at $141.81 on Wednesday on the
New York Stock Exchange. They were trading at $145.21 before the