Home / Knowledge / News / Apparel/Garments / VF Corp Q2 revenues up 8% to $2.4bn
VF Corp Q2 revenues up 8% to $2.4bn
19
Jul '14
VF Corporation reported financial results for its second quarter ended June 28, 2014. All per share amounts are presented on a diluted basis. Strong contribution from our Vans, Timberland, The North Face, Kipling and Wrangler brands drove an 8 percent increase in revenues and a 16 percent increase in earnings per share in the second quarter.
 
Highlights: 
-Revenues up 8 percent to $2.4 billion; earnings per share up 16 percent to $0.36.
-Outdoor & Action Sports revenues up 16 percent including an 11 percent increase in The North Face brand revenues, a 21 percent increase in Vans brand revenues, and a 19 percent increase in Timberland brand revenues.
-Direct-to-consumer revenues up 18 percent with strong results from nearly every brand and double-digit growth in every region.
-International revenues up 14 percent with double-digit growth in Europe and Asia Pacific.
-Full year earnings per share expected to increase 13 percent to $3.06.
 
“Our strong second quarter results, led by our Outdoor & Action Sports coalition, put us right in line with our full-year outlook and long-term growth commitments,” said Eric Wiseman, VF Chairman, President and Chief Executive Officer. “Looking toward the second half of 2014, our powerful brands and platforms have us well-positioned to continue our momentum and deliver another record year for VF and its shareholders.”
 
Second Quarter 2014 Review
Revenues rose 8 percent to $2.4 billion driven by double-digit growth in our Outdoor & Action Sports, international and direct-to-consumer businesses.
 
Gross margin was 48.4 percent, down 10 basis points against last year’s same period. Continued benefit from the shift of our revenue mix toward higher margin businesses was offset by foreign currency impact, as anticipated, and efforts to aggressively manage inventories especially in our Jeanswear business. The company’s expectation for a 90 basis point improvement for the full year remains unchanged.
 
SG&A as a percent of revenues was down 10 basis points to 39.3 percent.
 
Operating income increased 9 percent to $220 million in the second quarter, compared with $201 million in the same period of 2013. Operating margin was 9.2 percent compared with 9.1 percent in the second quarter of 2013.
 
Earnings per share increased 16 percent to $0.36 per share compared with $0.31 per share during the same period last year.
 
Click here to view full results.
 

VF Corporation


Must ReadView All

Apparel/Garments | On 29th Jun 2017

Amazon intends to keep investing and growing in India

American online retail giant Amazon intends to keep investing and...

Textiles | On 29th Jun 2017

Vietnam’s textile & garment exports cross $10bn till May

Vietnam earned $10... billion from textile and garment exports in the ...

Textiles | On 29th Jun 2017

Indian textile industry will reach new milestone by 2020

By 2020, textile technologies will be highly advanced not only with...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X