North Face Parent VF Drops After Earnings Miss Estimates


VF traded lower Friday after the parent of North Face and Timberland reported fourth-quarter earnings that missed analysts’ estimates.

Telsey Advisory’s Dana Telsey said that a tax rate higher than the consensus estimate and narrower-than-expected gross margin resulted in earnings per share coming up short. Telsey maintains an outperform rating on VF due to its favorable view of the company’s position in the outdoor and active segments and its increased streetwear profile.

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