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V.F. Corporation

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V.F. Corp surpassed the industry in the past six months driven by its robust surprise trend that continued in second-quarter fiscal 2019. The company reported better-than-expected earnings and revenues in the fiscal second quarter, which marked its fifth top and bottom line beat in the last six quarters. Results gained from solid trends at its core brands (Vans and The North Face). The company also witnessed strong growth at its international and direct-to-consumer businesses, as well as Active and Work segments. Further, the company’s 2021 growth strategy, which focuses on business transformation and solid shareholder returns, bodes well. Driven by the strong results and visibility for the second half, the company raised earnings and sales view for fiscal 2019. However, weakness in the wholesale business remains a concern. Further, negative currency translations have been weighing on its quarterly performances, which is likely to continue.


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