VF Corporation (VFC, Financial), the parent company of popular brands Vans and The North Face, saw its shares surge over 21% in pre-market trading. The company turned a profit in its second fiscal quarter ending in September, reporting earnings of $52.178 million. This is a significant turnaround from a loss of $450 million in the same period last year.
Adjusted earnings per share came in at $0.60, surpassing market expectations of $0.38. Overall revenue fell 6% year-over-year to $2.76 billion, slightly beating forecasts.
Looking ahead, VF Corp anticipates third-quarter revenue to range between $2.7 billion and $2.75 billion, while the market had expected a slightly higher figure of $2.78 billion.
