Footwear Giant VF Beats Analysts Despite an Almost 50% Revenue Plunge

Reporting on its fiscal Q1 2021 results, VF (NYSE: VFC), the parent company of the Vans, Timberland, North Face, and JanSport brands, says its revenue fell by 48% and its adjusted loss per share came in at $0.57 -- yet it still managed to positively beat analyst consensus in both areas. Net revenue came in at $1.076 billion, a marked drop from last year's $2.05 billion for the same quarter but still ahead of analyst forecasts of $971.8 million by approximately $104.5 million. VF even delivered better gross margin (54.1% actual, versus 53.5% predicted) and operating margin (a 21.9% loss, versus a predicted 29.5% deficit.