VF Corp Earnings Cheat Sheet: Are Shares Oversold After Strong Quarter?

S&P 500 (NYSE:SPY) component VF Corporation (NYSE:VFC) reported net income above Wall Street’s expectations for the first quarter. VF Corporation is an apparel company that designs and manufactures or sources from independent contractors a variety of apparel and footwear for all ages.

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VF Earnings Cheat Sheet for the First Quarter

Results: Net income for VF Corporation rose to $201.4 million ($1.82/share) vs. $163.5 million ($1.46/share) in the same quarter a year earlier. A rise of 23.2% from the year earlier quarter.

Revenue: Rose 11.9% to $1.96 billion YoY.

Actual vs. Wall St. Expectations: VFC beat the mean analyst estimate of $1.60/share. Estimates ranged from $1.54 per share to $1.68 per share.

Quoting Management: “Our decision last year to increase investments in our brands to drive organic growth is paying dividends in the form of continued top and bottom line momentum that we expect to sustain during 2011,” said Eric Wiseman, Chairman and Chief Executive Officer. “During the quarter we achieved higher revenues and operating income across all businesses, with exceptionally strong international growth as we continue to extend the reach of our brands to consumers around the world.”

Key Stats:

Net income has increased 24.9% year over year on average across the last five quarters. The biggest gain came in the first quarter of the last fiscal year, when income climbed 62% from the year earlier quarter.

Competitors to Watch: Gap (NYSE:GPS), Sears Holdings (NASDAQ:SHLD), Wal-Mart (NYSE:WMT), Target (NYSE:TGT), Urban Outfitters (NASDAQ:URBN), Abercrombie & Fitch (NYSE:ANF), American Eagle Outfitters (NYSE:AEO), Aeropostale (NYSE:ARO), J.C. Penney (NYSE:JCP), Saks (NYSE:SKS), Macy’s (NYSE:M), Dillard’s (NYSE:DDS), Nordstrom (NYSE:JWN), True Religion Apparel, Inc. (NASDAQ:TRLG), Dussault Apparel Inc. (DUSS), VLOV Inc. (VLOV), Cherokee Inc. (NASDAQ:CHKE), and The Warnaco Group, Inc. (NYSE:WRC).

Today’s Performance: Shares of VFC closed at $100.56 as of April 30, 2011:


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