VF Corp Stock Rises Ahead of Q3 Earnings But Retail’s Cautious

Shares of apparel company VF Corp ($VFC) have risen more than 7% in the past week ahead of the company’s third-quarter earnings, but retail sentiment has stayed cautious.

VF Corp is set to report third-quarter results on Jan 29 before the bell.

Wall Street analysts expect the company to post earnings per share of $0.34 on revenues of $2.75 billion, according to Stocktwits data.

VF Corp is expected to surpass its guidance, with flat to low single-digit year-over-year revenue growth at the higher end, Investing.com reported.

Earlier this week, TD Cowen reaffirmed a ‘Hold’ rating and bumped the price target to $25 from $24, based on its positive outlook for the company’s upcoming quarters.

Sentiment on Stocktwits was ‘neutral’ compared to a week ago. Message volumes have continued to be in the normal range.

https://stocktwits.com/satsandstocks/message/601677853

VF Corp recently said it would embark on additional layoffs as part of its previously announced 
transformation plan, according to media reports.

“VF has begun a reorganization related to select commercial functions globally, intended to align these organizational structures to its new business model,” a spokesperson for VF told Fashion Dive. 

VF Corp is a maker of apparel, footwear, and accessories in the outdoor, active, work segments. Its brands include The North Face, Vans, Kipling, Eastpak, and JanSport.

VF Corp stock is up 21% year-to-date.

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