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VF Corporation Q4 results beat, driven by The North Face, ongoing China recovery

Investing.com -- VF Corporation reported better-than-expected fourth-quarter results Tuesday, driven by strength in The North Face and an ongoing recovery in China as consumers return following a period of COVID lockdowns.

VF Corporation (NYSE:VFC) rose more than 3% in afterhours following the report.   

The company, which owns brands including The North Face, Timberland, and Dickies among others, reported EPS of $0.17 on revenue of $2.74 billion.  

Growth was led by "ongoing strength in The North Face and our International business, with accelerating momentum in Greater China," the company said.

Looking ahead to fiscal 2024, the company forecasts EPS of $2.05 to $2.25, with revenue expected to be flat to up slightly in constant dollars. Gross margin is expected to be up at least 100 basis points for the year, benefiting from a "lower promotional environment across the marketplace," the company said.

For fiscal Q1, the company said it expected revenue down high-single digits in constant dollars reflecting a challenging U.S. Wholesale environment.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.