— V.F. Corporation (NYSE: VFC) reported its second-quarter 2020 adjusted earnings of $1.26 per share versus $1.31 per share expected.
— Revenue grew by 5% to $3.39 billion versus $3.42 billion expected. On an adjusted basis, revenue increased by 6% driven by VF’s two largest brands, and its international and direct-to-consumer platforms.
— Active segment revenue grew by 9% and Outdoor segment revenue rose by 4%. International revenue increased by 4% while direct-to-Consumer revenue grew by 11%.
— Looking ahead into fiscal 2020, the company still expects revenues in the range of $11.8 billion, representing about 6% annual growth.
— The estimate for adjusted earnings per share for the full year is between $3.32 and $3.37 per share, which reflects a 16% to 18% year-over-year growth.
— Adjusted cash flow from operations is still expected to be at least $1.3 billion for the full year.
— The board of directors declared a quarterly dividend of $0.48 per share, reflecting a 12% increase over the previous quarter. The dividend will be paid on December 20, 2019, to shareholders of record on December 10, 2019.
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