Timberland Parent VF Corp CEO Admits Quarter 'Wasn't Great'

VF Corporation (NYSE: VFC ) stock tumbled Wednesday after the apparel maker reported mixed first-quarter results, as a wider-than-expected adjusted loss overshadowed a revenue beat and a higher full-year sales outlook. VF Corp. Reports Mixed First-Quarter Results The company reported an adjusted loss of 27 cents per share, wider than analysts’ expectations for a loss of 22 cents. Revenue fell 5% year over year to $1.67 billion, beating the consensus estimate of $1.64 billion. Excluding Dickies, revenue increased 1% from a year earlier and was flat on a constant-currency basis, outperforming the company’s guidance for a low-single-digit constant-currency decline. Adjusted gross margin, excluding Dickies, expanded 10 basis points to 54.9%, while adjusted operating loss, excluding Dickies, narrowed to $95 million, better than the company’s guidance for a $100 million lo...