Shares of VF Corp. rose 3.2 percent in pre-market trading after the company posted third-quarter results that bested Wall Street's expectations and raised its full-year outlook.VF said net income fell 22.5 percent to $386.1 million, or 97 cents a diluted share, from $498.5 million, or $1.19, a year ago. On an adjusted basis, excluding a noncash goodwill impairment charge, earnings per share from continuing operations were up 6 percent to $1.23. The noncash impairment charge is related to the Nautica brand in the amount of $105 million and $5 million of transaction and deal related expenses connected with its acquisition of Williamson-Dickie. The third quarter ended on Sept. 30.Total revenues in the quarter were up 5.4 percent to $3.51 billion from $3.33 billion. Revenues included a 5.5 percent increase in net sales to $3.48 billion from $3.30 billion. The balance of revenues came from royalty income.Wall Street was expecting adjusted EPS at $1.12 on revenues of $3.39 billion.Steve Rendle, president and chief executive officer, said the quarter's results were fueled by "accelerated momentum" in the firm's international and direct-to-consumer platforms and in its outdoor and action sports and workwear businesses."Based on the strength of our third-quarter performance and the stronger growth trajectory we see for the remainder of 2017, we are again increasing our full-year outlook and making additional growth-focused investments aimed at accelerating growth and value creation into 2018 and beyond. VF remains committed to returning cash to shareholders as evidenced by the increase in our dividend, which is supported by the strength of our balance sheet and the confidence we have in our strategic growth plan," Rendle said.The company's board on Thursday declared a quarterly dividend of 46 cents a share, or a 10 percent increase over the previous quarter's dividend. The dividend will be payable on Dec. 18 to shareholders of record at the close of business on Dec. 8.For 2017, the company said it expects GAAP EPS to be $2.73, and $3.01 on an adjusted basis, compared with the previous forecast of $2.96. That's compared with 2016 adjusted EPS of $2.98. The company said revenues are now expected to rise 6 percent to $12.1 billion, compared with the previous guidance of $11.85 billion.Shares of VF were trading at $68.50 at 8:09 a.m.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)