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V.F. profit misses consensus by 19.1% in fiscal Q2

V.F. Corp. said its normalized net income for the fiscal second quarter ended July 4 amounted to 29 cents per share, compared with the S&P Capital IQ consensus estimate of 36 cents per share.

EPS climbed year over year from 29 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $125.7 million, compared with $124.7 million in the second quarter ended June 28, 2014.

The normalized profit margin fell to 5.1% from 5.2% in the year-earlier period.

Total revenue increased on an annual basis to $2.51 billion from $2.40 billion, and total operating expenses grew 5.0% on an annual basis to $2.29 billion from $2.18 billion.

Reported net income rose 9.5% year over year to $172.3 million, or 40 cents per share, from $157.4 million, or 36 cents per share.