Home / Knowledge / News / Apparel/Garments / Apparel marketer VF Corp's sales expand 7% in Q3FY15
Apparel marketer VF Corp's sales expand 7% in Q3FY15
23
Oct '14
Driven by strong growth in its outdoor & action sports portfolio and its direct-to-consumer business, revenues at apparel marketer – VF Corp rose 7 percent from a year earlier quarter to $3.5 billion in the third fiscal quarter ending September 27, 2014.

Outdoor & action sports revenues went up 11 percent from the prior year quarter, including a 9 percent increase in The North Face brand, a 12 percent hike in Vans and a 15 percent surge in Timberland.

VF Corp said its direct-to-consumer revenues shot up by 16 percent with growth coming from every brand and double-digit growth in every region in the reporting quarter, while global sales rose 9 percent driven by strong growth in Europe and Asia Pacific.

In the third quarter of 2014, gross margin improved 70 basis points to 48.3 percent, which VF Corp attributed to continuing shift of its revenue mix toward higher margin businesses. In the same quarter SG&A as a percent of revenues was up 40 basis points to 30.4 percent.

Operating income increased 9 percent year-on-year to $633 million in the third quarter of 2014, compared with $580 million in the same period of 2013, while operating margin stood at 18 percent against 17.6 percent in the third quarter of 2013.

Third quarter of 2013 earnings per share hiked in double-digits to 11 percent to $1.08 per share compared with $0.97 per share during the same period last year. Resultantly, VF hiked quarterly dividend by 22 percent to $0.32 per share.

In its outlook for the full fiscal year, VF Corp expects turnover to reach $12.3 billion, growing 8 percent over the previous fiscal year, with outdoor & action sports revenues expected to increase by 13 percent.

It also revised upwards Timberland brand’s annual growth outlook to 13 percent versus the previously anticipated 12 percent. Gross margin is also expected to expand to around 49 percent and operating margin is forecast to touch 15 percent.

Earnings per share are now expected to reach $3.08 per share, an increase of $0.02 over the previous outlook, representing a 14 percent increase over the previous fiscal year and slightly ahead of its long-term financial target.

“Our third quarter results validate our growth strategy and demonstrate our ability to manage our powerful portfolio in ways that ensure we deliver solid results,” Eric Wiseman, Chairman at VF Corp said elatedly.

He added, “Led by another outstanding performance from our outdoor & action sports business, we delivered strong growth in revenue and earnings and we are squarely on track to deliver another record year for VF and our shareholders.” (AR)

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 24th Jul 2017

Govt extends deadline for GST composition scheme to Aug 16

The Government on India has extended the deadline for small...

L-R: Dhanapal, JMD, Best Corporation; Prabhu Damodaran, Convenor, ITF; Narayanasamy, MD, Micro Cotspin; Senthilnathan, MD Rasitex India; and Sabapathy, MD, Prasanna Spinning Mills

Textiles | On 24th Jul 2017

TN mills seek partnership with cotton growing states

Spinning mills in Tamil Nadu are seeking stronger partnership with...

Textiles | On 24th Jul 2017

Irani terms GST as a ‘great step towards transparency’

Union textiles minister Smriti Irani has termed the Goods and...

Interviews View All

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


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



X