V.F. Corp and Deere Report Mixed Quarterly Results

It was a mixed bag of earnings on Friday for apparel maker V.F. Corp. (VFC) and tractor manufacturer Deere & Co. (DE). V.F. reported fourth quarter earnings of $0.95 a share, missing estimates of $1.01 a share. Revenue came in at $3.38 billion, falling short of forecasts of $3.64 billion. ‘You’re seeing wages grow very slowly and we’re not really seeing the benefits from the declines in oil prices, which has boosted discretionary income,’ said Craig Erlam, senior market analyst at Oanda, based in London. The maker of The North Face products was also hit by the strong dollar. Meanwhile, Deere and Co. posted fiscal 2016 first quarter net income of $0.80 a share, beating estimates by $0.10 a share, but revenue fell 13 percent year-over-year. TheStreet’s Scott Gamm reports from Wall Street.