VF Corp reports record Q2 revenues & earnings, ups FY guidance

19 Jul '06

4 min read

"We are gratified by the strong organic growth our brands are currently generating, which we expect will continue. We are also continuing to aggressively pursue acquisitions, which remain an important component of our future growth," he added.

The company's outdoor coalition enjoyed another quarter of robust double-digit growth, with total revenues up 24 percent to $371.0 million, with strong gains both domestically and internationally. The North Face brand continued its momentum in the quarter with a revenue increase of 16 percent, while Vans, JanSport, Reef and Kipling brands each grew revenues in excess of 20 percent in the quarter.

Jeanswear coalition posted excellent results in the quarter, with growth across most of our brands and geographic markets. Total revenues were up 6 percent in both our domestic and international jeans businesses. Growth in international markets such as Latin America, Mexico and China continued, with double-digit revenue increases in each. Revenues in Europe and Canada also grew in the quarter.

Total revenues of Sportswear coalition, which includes our Nautica and John Varvatos brands as well as the Kipling brand in North America, increased 5 percent in the quarter. Each brand achieved higher revenues in the quarter. Nautica brand men's sportswear business continues to perform very well despite recent department store consolidation, and we are looking forward to the initial test of our new women's sportswear line this fall.

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