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

Digital textile printing sector to grow by 20% by 2020

Textiles | On 18th Jun 2018

Digital textile printing sector to grow by 20% by 2020

The digital textile printing sector is expected to have a compound...

Courtesy: Hela Clothing

Apparel/Garments | On 18th Jun 2018

Hela's latest label revolves around underwear, sleepwear

The latest collection of Sri Lanka’s Hela Clothing is revolves mostly ...

Kenya levies higher duties on mitumba import

Apparel/Garments | On 18th Jun 2018

Kenya levies higher duties on mitumba import

Kenya’s treasury secretary Henry Rotich recently raised the duty on...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search