VF Corp. (VFC) - Get Report shares fell sharply Friday after the apparel company behind brands such as Vans and The North Face reported fiscal second-quarter earnings that missed Wall Street expectations.
Denver-based VF Corp. said second-quarter net income was $649 million, or $1.61 a share, up from $507 million, or $1.28, a year ago. Adjusted EPS was $1.26, , while analysts were expecting $1.31, according to FactSet.
Revenue rose 5% to $3.4 billion, which was in line with expectations.
The company also increased its dividend by 12% to 48 cents a share.
For fiscal 2020, VF Corp. still expects revenue to come in around $11.8 billion and adjusted EPS in the range of $3.32 to $3.37. Analysts are expecting revenue of $11.9 billion and EPS of $3.39, according to FactSet.
The shares were down 7.6% to $83.92.
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