Apparel maker V.F. Corporation ( VFC ) on Tuesday said its fourth quarter profit rose from last year on higher sales, beating anlayst estimates.
The Greensboro, NC-based company reported fourth quarter adjusted net income of $196.1 million, or $1.78 per share, compared with $181.3 million, or $1.62 per share, in the year-ago period.
Revenue jumped 11% from last year to $2.13 billion.
On average, Wall Street analysts expected a much lower profit of $1.65 per share, on smaller revenue of $2.03 billion.
V.F. Corp shares rose $2.20, or +2.5%, in premarket trading Tuesday.
The Bottom Line
We have been recommending shares of V.F. Corp ( VFC ) since Dec.17, 2010, when the stock was trading at $88.16. Shares of VFC have a 2.81% dividend yield, based on Friday's closing stock price of $89.80.
V.F. Corporation ( VFC ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
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