NEW YORK (TheStreet) -- Shares of VF Corp. (VFC) are down by 1.41% to $71.41 in mid-morning trading on Friday, after the global apparel and footwear company issued its 2015 first quarter earnings results.
For the most recent quarter the company, whose brands include Lee, JanSport, Vans, and Timberland, said its earnings were flat at 67 cents per diluted share, matching the expectations of analysts polled by Thomson Reuters.
Revenue grew by 2% in the latest quarter to $2.84 billion, also matching analysts' forecasts for the period.
"We remain confident in the year ahead, the fundamental strength of our business, and the significant momentum we see across our diverse portfolio of brands. The proven strength of VF's growth strategy, driven by consistent execution and solid operational discipline, has led us to increase our expectations for full-year currency neutral earnings per share growth putting us on track to deliver another record year to shareholders," company CEO Eric Wiseman said in a statement.
Separately, TheStreet Ratings team rates VF CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate VF CORP (VFC) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income."