Home / Knowledge / News / Apparel/Garments / VF Corp Q4 revenue climbs 20% to $3.6 billion
VF Corp Q4 revenue climbs 20% to $3.6 billion
19
Feb '18
Courtesy: VF Corporation
Courtesy: VF Corporation
The revenue of VF Corporation, a global leader in branded lifestyle apparel, footwear and accessories, for the fourth quarter of fiscal 2017, has increased 20 per cent to $3.6 billion. This includes a $247 million contribution from the Williamson-Dickie acquisition, which closed on October 2, 2017. Excluding this acquisition, revenue increased 12 per cent.

Full year 2017 revenue from continuing operations increased 7 per cent to $11.8 billion, including an approximate 2 percentage point revenue growth contribution from the Williamson-Dickie acquisition.

Gross margin improved to a quarterly record high of 51.5 per cent, as benefits from pricing, lower restructuring costs, and a mix-shift toward higher margin businesses were partially offset by the Williamson-Dickie acquisition and changes in foreign currency. On an adjusted basis, gross margin increased to 51.6 per cent. Full year 2017 reported gross margin from continuing operations climbed to 50.5 per cent. On an adjusted basis, gross margin rose to 50.5 per cent.

Fourth quarter operating income on a reported basis was $481 million. On an adjusted basis, operating income went up 6 per cent to $497 million, including a $19 million contribution from the Williamson-Dickie acquisition. Full year operating income on a reported basis increased 10 per cent to $1.5 billion. Adjusted operating income decreased 2 per cent to $1.5 billion, including a $19 million contribution from the Williamson-Dickie acquisition.

"VF's fourth quarter results were stronger than we expected as growth continues to accelerate across core dimensions of our portfolio," said Steve Rendle, chairman and chief executive officer. "We delivered a top-quartile total return for shareholders in 2017 and our strong performance provided us with the capacity to reinvest about $100 million back into our business. I am confident that our investments will accelerate growth and drive even stronger long term value for shareholders. We remain in the early phase of a multi-year journey to become a purpose led, agile, consumer centric organisation. I am pleased with our early progress and look forward to building on our momentum in 2018."

For 2018, the company's revenue is expected to approximate $2.9 billion, up 16 per cent, including about a $200 million contribution from the Williamson-Dickie acquisition. Excluding the Williamson-Dickie acquisition, revenue is expected to elevate at a high single-digit rate due in part to changes in foreign currency.

Adjusted earnings per share is likely to approximate $0.65, up 27 per cent, including about a $0.02 contribution from the Williamson-Dickie acquisition. Excluding the Williamson-Dickie acquisition, adjusted earnings per share is expected to rise more than 20 per cent due in part to changes in foreign currency. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: EIN Presswire

Apparel/Garments | On 19th Apr 2021

EC funds campaign on disastrous impact of fast fashion

With clothes consumption increasing by 60 per cent in only 15 years,...

Pic: Target Corporation

Retail | On 19th Apr 2021

Target Corp to spend over $2 bn with Black-owned businesses by 2025

As part of its commitment to social justice and racial equity, Target ...

Pic: PR Newswire

Textiles | On 19th Apr 2021

Japanese firm Epson launches textile printer for customised clothing

Epson has launched the industrial-level SureColor F10070H...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Textile Industry, Head honchos

Textile Industry
Head honchos

Great step towards realising end goal of 'AtmaNirbhar Bharat'

Textile Industry, Head honchos

Textile Industry
Head honchos

Money never disappears-it just finds new opportunities

P V Kadole,

P V Kadole

Nine co-operative organisations from Ichalkaranji came together to form an ...

Shyam Gupta,

Shyam Gupta

Established by <b>Shyam Gupta</b> in 1978, Gargee Designer's (GD) offers...

Yawer Ali Shah,

Yawer Ali Shah

Synthetic colours and dyes were all the rage till the very first ban on...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

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


April 2021

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


Advanced Search