V.F. Corp. Falls After Annual Revenue Outlook Comes In Below Estimates

(RTTNews) - Shares of apparel and footwear company, V.F. Corporation (VFC) are falling more than 6% in the morning trade on Friday after the company's full-year revenue outlook came in below view.

The company said it expects full-year revenue to be about $11.85 billion. This compares with the average estimate of analysts polled by Thomson Reuters at $11.95 billion.

Third-quarter net income increased to $517.8 million or $1.32 per share from $347.24 million or $0.88 per share in the same quarter a year ago.

On an adjusted basis, earnings per share were $1.35, that beat the average estimate of analysts polled by Thomson Reuters at $1.21 per share.

Revenue also increased 22 percent to $3.624 billion. The consensus estimate was for $3.6 billion.

VFC touched a new low of $62.14 this morning before edging up to $63.13 currently.