VF Corp. Issues 2017 Outlook - Quick Facts

(RTTNews) - VF Corp. (VFC) announced, for 2017, earnings per share is expected to be down at a low single-digit percentage rate compared to 2016 (up at a mid-single-digit percentage rate on a currency neutral basis). Revenue is expected to increase at a low single-digit percentage rate including about a 2 percentage point negative impact from changes in foreign currency.

First-quarter earnings per share on a reported basis was down 8 percent to $0.52 compared to $0.56 during the same period last year. Excluding the impact of changes in foreign currency, first quarter earnings per share was down 3 percent. Revenue declined 2 percent to $2.6 billion (down 1 percent currency neutral).

"VF's first quarter results were right in line with our expectations. The company's largest brands and international and direct-to-consumer platforms performed well, delivering solid results against a retail backdrop that continues to experience significant dislocation," said Steve Rendle, CEO.

VF's Board declared a quarterly dividend of $0.42 per share, payable on June 19, 2017 to shareholders of record on June 9, 2017.