Vans owner VF Corp forecasts 2020 revenue below estimates, shares fall

Earnings

Vans sneakers on beach

Source: Vans

Apparel maker VF Corp exceeded Wall Street’s quarterly sales expectations, boosted by higher demand for its Vans sneakers and outdoor wear brand North Face.

Net income fell to $128.8 million, or 32 cents per share, in the fourth quarter ended March 30, from $252.8 million, or 63 cents per share, a year earlier.

Total revenue rose 5.5% to $3.21 billion, edging past analysts’ estimate of $3.20 billion, according to IBES data from Refinitiv.

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