Full year 2019 revenue from continuing operations increased 12 per cent (up 13 per cent in constant dollars) to $13.8 billion; excluding acquisitions net of divestitures, revenue increased 7 per cent (up 8 per cent in constant dollars).
“Fiscal 2019 marked one of the most significant periods of transformation in VF's 120-year history, highlighted by our announcement to spin off our Jeans business as an independent, publicly traded company,” said Steve Rendle, chairman, president and chief executive officer. “Despite the tremendous workload, we remained sharply focused and delivered another year of strong financial results and top quartile returns to our shareholders."
"As we enter fiscal 2020, our portfolio is well positioned, and our growth and momentum are strong, fueled by the investments we are making in support of our long-term strategy. The bold decisions we continue to make to evolve our company underpin the transformational journey we're on to deliver on our commitment to be a purpose-led, performance-driven and value-creating enterprise capable of delivering sustainable long-term shareholder value.” Rendle continued.
Full year fiscal 2020, revenue is expected to be in the range of $11.7 billion to $11.8 billion, reflecting growth of approximately 5 to 6 per cent, or approximately 7 to 8 per cent on a constant dollar basis excluding the impact of acquisitions net of divestitures. By segment, revenue for Outdoor is expected to increase approximately 4 to 5 per cent, or around 5 to 6 per cent on a constant dollar basis, excluding the impact of acquisitions. The revenue for Active is expected to increase nearly 6 to 7 per cent, or approximately 9 to 10 per cent on a constant dollar basis excluding the impact of divestitures; and, revenue for Work is expected to be up 3 to 5 per cent, or approximately 4 to 6 per cent on a constant dollar basis, excluding the impact of divestitures. (RR)
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