VF earnings rise as outdoor segment sales jump 14%

|By:, SA News Editor

VF Corp. (VFC) +0.6% premarket after Q1 earnings rose 10% and beat estimates on double-digit sales growth in its outdoor and action sports, international and direct-to-consumer businesses.

VFC raises its FY 2014 EPS outlook to $3.06 vs. its previous guidance of $3.00-$3.05 and $3.06 analyst consensus estimate, and says revenue should climb to the high end of its previous range of 7%-8% growth.

Sales in the outdoor and action sports segment, VFC's largest contributor to revenue, jumped 14% to $1.6B; in jeanswear, sales slipped ~4% to $690M; direct to consumer sales rose 16% and international climbed 11%.

Gross margin widened to 49.4% from 48.1%.