Vans sneakers are flying off the shelves. And that's great news for owner VF Corp.
The company reported earnings and revenue that topped forecasts Friday, led by a 25% surge in sales of Vans footwear. VF Corp. (VFC) also lifted its outlook for this year. The stock surged more than 10% on the news.
Vans is VF Corp.'s star brand. But it isn't the only one that's doing well.
- Sales of North Face outdoor apparel were up 14% from a year ago.
- Revenue from China popped 18%, VF Corp. is doing well in China too — despite concerns about tariffs and a slowdown in the Chinese economy.
- Digital sales were up 24% in the quarter, signaling that VF Corp. has figured out a way to compete with Amazon (AMZN) and other online retailers.
The success of VF Corp. has led to some chatter on Wall Street that the company may look to buy Skechers. Shares of Skechers (SKX) shot up 6% Thursday on merger talk, although some analysts are skeptical. During a conference call with analysts, VF CEO Steve Rendle said that M&A will remain a top priority but that people shouldn't always believe the rumors they read.