Q1 Rundown: VF Corp (NYSE:VFC) Vs Other Apparel, Accessories and Luxury Goods Stocks
Wrapping up Q1 earnings, we look at the numbers and key takeaways for the apparel, accessories and luxury goods stocks, including VF Corp (NYSE:VFC) and its peers.
Within apparel and accessories, not only do styles change more frequently today than decades past as fads travel through social media and the internet but consumers are also shifting the way they buy their goods, favoring omnichannel and e-commerce experiences. Some apparel, accessories, and luxury goods companies have made concerted efforts to adapt while those who are slower to move may fall behind.
The 17 apparel, accessories and luxury goods stocks we track reported an ok Q1; on average, revenues were in line with analyst consensus estimates. while next quarter's revenue guidance was 2.2% below consensus. Stocks--especially those trading at higher multiples--had a strong end of 2023, but 2024 has seen periods of volatility. Mixed signals about inflation have led to uncertainty around rate cuts, and apparel, accessories and luxury goods stocks have held roughly steady amidst all this, with share prices up 4.2% on average since the previous earnings results.
VF Corp (NYSE:VFC)
Owner of The North Face, Vans, and Supreme, VF Corp (NYSE:VFC) is a clothing conglomerate specializing in branded lifestyle apparel, footwear, and accessories.
VF Corp reported revenues of $2.37 billion, down 13.4% year on year, falling short of analysts' expectations by 1.5%. Overall, it was a weak quarter for the company with a miss of analysts' earnings and constant currency revenue estimates.
The stock is up 11.8% since reporting and currently trades at $13.81.
Read our full report on VF Corp here, it's free.
Best Q1: Stitch Fix (NASDAQ:SFIX)
One of the original subscription box companies, Stitch Fix (NASDAQ:SFIX) is an online personal styling and fashion service that curates personalized clothing selections for customers.
Stitch Fix reported revenues of $322.7 million, down 15.8% year on year, outperforming analysts' expectations by 5.4%. It was a strong quarter for the company with an impressive beat of analysts' earnings estimates and full-year revenue guidance exceeding analysts' expectations.
Stitch Fix delivered the biggest analyst estimates beat and highest full-year guidance raise among its peers. The market seems happy with the results as the stock is up 78.9% since reporting. It currently trades at $4.76.
Is now the time to buy Stitch Fix? Access our full analysis of the earnings results here, it's free.
ThredUp (NASDAQ:TDUP)
Founded to revolutionize thrifting, ThredUp (NASDAQ:TDUP) is a leading online fashion resale marketplace that offers a wide selection of gently-used clothing and accessories.
ThredUp reported revenues of $79.59 million, up 4.8% year on year, in line with analysts' expectations. It was a weak quarter for the company with a miss of analysts' earnings estimates and revenue guidance for next quarter missing analysts' expectations.
ThredUp posted the weakest full-year guidance update in the group. As expected, the stock is down 3.7% since the results and currently trades at $1.80.
Read our full analysis of ThredUp's results here.
Kontoor Brands (NYSE:KTB)
Founded in 2019 after separating from VF Corporation, Kontoor Brands (NYSE:KTB) is a clothing company known for its high-quality denim products.
Kontoor Brands reported revenues of $631.2 million, down 5.4% year on year, surpassing analysts' expectations by 3.8%. Zooming out, it was a strong quarter for the company with an impressive beat of analysts' earnings and constant currency revenue estimates.
The stock is up 5.2% since reporting and currently trades at $65.29.
Read our full, actionable report on Kontoor Brands here, it's free.
Carter's (NYSE:CRI)
Rumored to sell more than 10 products for every child born in the United States, Carter's (NYSE:CRI) is an American designer and marketer of children's apparel.
Carter's reported revenues of $661.5 million, down 4.9% year on year, surpassing analysts' expectations by 3.3%. Zooming out, it was a mixed quarter for the company with an impressive beat of analysts' earnings estimates but underwhelming earnings guidance for the next quarter.
The stock is down 13.6% since reporting and currently trades at $61.80.
Read our full, actionable report on Carter's here, it's free.
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