Leader in branded apparel including jeanswear, intimate apparel, sportswear, outdoor products and workwear VF Corporation, reaffirmed sales and earnings guidance for 2005 and established sales and earnings guidance for 2006.
All estimates exclude the impact of adopting FASB Statement 123, which requires the recognition of costs for stock options.
The Company is maintaining its expectation for an increase in earnings of about 10 Percent for 2005 to approximately $4.65 per share. Sales for 2005 should rise 5 to 6 Percent.
Consistent with guidance issued on October 21, 2005, the Company expects sales in the fourth quarter to rise about 2 Percent, while earnings per share should be flat to up slightly over the $1.10 reported in the same period a year ago.
For 2006, the Company anticipates sales growth of about 4 to 5 Percent, excluding any additional acquisitions.
Net earnings on a fully diluted basis are expected to increase about 6 Percent to approximately $4.95 per share, also excluding any additional acquisitions.
Management will provide additional details about its 2006 outlook when it releases full year 2005 financial results on February 8, 2006.
VF is webcasting its investor meeting today from 8:30 a.m. EST until noon. Interested parties can access the webcast through the Company's web site, www.vfc.com.
The world´s largest apparel companies VF Corporation is a leader in branded apparel including jeanswear, outdoor products, intimate apparel, image apparel and sportswear.
Its principal brands include Lee, Wrangler, Riders, Rustler, Vanity Fair, Vassarette, Bestform, Lily of France, Nautica, Earl Jean, John Varvatos, JanSport, Eastpak, The North Face, Vans, Reef, Napapijri, Kipling, Lee Sport and Red Kap.
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
