Home / Knowledge / News / Apparel/Garments / Q2FY19 revenue of VF rises 15% to $3.9 billion

Q2FY19 revenue of VF rises 15% to $3.9 billion

23
Oct '18
Courtesy: VF Corporation
Courtesy: VF Corporation
In the second quarter of fiscal 2019, revenue from continuing operations at VF Corporation has increased 15 per cent (up 16 per cent in constant dollars) to $3.9 billion. During the reported period, revenue from continuing operations also went up 6 per cent (up 7 per cent in constant dollars) excluding the revenue contribution from acquisitions.

Gross margin from continuing operations decreased 10 basis points to 50.1 per cent; on an adjusted basis, gross margin was in line with the prior year at 50.2 per cent. Excluding the impact of acquisitions, on an adjusted basis, gross margin increased 70 basis points to 50.9 per cent.

Earnings per share from continuing operations in the second quarter were $1.26. Adjusted earnings per share from continuing operations climbed 19 per cent (up 21 per cent in constant dollars) to $1.43, including $0.08 contribution from acquisitions.

Inventories were up 22 per cent compared with the same period last year. Excluding the impact of acquisitions, inventories increased 5 per cent. The company has $4 billion remaining under its current share repurchase authorisation.

"VF’s second quarter results were strong driven by our core brands, the company’s international and direct-to-consumer platforms, and our work businesses," said Steve Rendle, chairman, president and chief executive officer. "As we move into the second half of our fiscal year, we are confident in our growth engines as evidenced by the increase in both our dividend and full year outlook. We continue to invest behind our strategic growth priorities, and the actions we are taking continue to advance our journey toward transforming VF into a purpose-led, performance-driven, consumer centric organization focused on and committed to delivering superior returns to shareholders."

For fiscal 2019, revenue is expected to be at least $13.7 billion, reflecting an increase of at least 11 per cent which compares to the previous expectation of revenue between $13.6 billion and $13.7 billion. Cash flow from operations is projected to be around $1.8 billion versus the previous expectation of cash flow from operations to exceed $1.7 billion.

The adjusted gross margin is expected to approximate 51 per cent and adjusted operating margin is projected to rise 80 basis points to 13.5 per cent, versus the previous expectation of 13.4 per cent. Adjusted Earnings per share is likely to be $3.65, reflecting an increase of 16 per cent. This is in comparison to the previous expectation of $3.52 to $3.57. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

UK Govt, fashion retailers sign agreement to fight slavery

Fashion | On 17th Nov 2018

UK Govt, fashion retailers sign agreement to fight slavery

John Lewis, M&S, New Look, NEXT, River Island and Shop Direct...

CNTAC delegation from China visits Pakistan

Textiles | On 17th Nov 2018

CNTAC delegation from China visits Pakistan

Chinese investors have expressed a desire to enter into joint...

Odisha to set up three textile parks

Textiles | On 17th Nov 2018

Odisha to set up three textile parks

Around 17 firms have expressed interest to invest to the tune of ₹589 ...

Interviews View All

Pinkesh Jain, Everflow Petrofils Ltd

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Evelyne Cholet, UCMTF

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Kalai Selvi,

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Tina Antoniades,

Tina Antoniades

India-headquartered Lulu & Sky is a rapidly escalating brand with the...

Larry Fontana,

Larry Fontana

Italy-based Lafer SpA is one of the most innovative surface finishing...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Judy Frater, Somaiya Kala Vidya

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

Leave your Comments


November 2018

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

news category


Related Categories:

Advanced Search