VF corp. VFC, -6.52% shares slipped 2.7% in Friday premarket trading after the company reported fiscal third-quarter profit and revenue that missed expectations. Net income totaled $517.8 million, or $1.32 per share, up from $347.2 million, or 88 cents per share, last year. Adjusted EPS of $1.35 missed the FactSet consensus for $1.40. Revenue totaled $3.624 billion, up from $2.971 billion last year and below the $3.893 billion FactSet consensus. VF Corp.’s portfolio includes The North Face, Vans, Supreme and Timberland brands of clothing and accessories. VF said it experienced manufacturing delays during the third quarter due to COVID but expects to be back to “nearly full capacity” in the coming weeks. VF declared a dividend of 50 cents per share payable on March 21 to shareholders of record as of March 10. For the full fiscal year, the company expects revenue of about $11.85 billion and adjusted EPS of about $3.20. The FactSet consensus is for revenue of $11.945 billion and EPS of $3.17. VF stock has tumbled 15.1% over the last 12 months while the S&P 500 index SPX, +2.43% has gained 14.2% for the period.
