US: VF Corp Q4 sales and earnings climb
- Q4 net profit up 7%
- Gross margin at 48.2%
- Net sales climb 8%
Earnings grew 7% to $386m during the fourth quarter
Apparel giant VF Corporation has booked an increase in fourth-quarter earnings and sales, but results missed analyst expectations.
In the three months to the end of December, earnings grew 7% to US$386m or $0.82 per share, from $334.17m a year earlier. Thomson Reuters analysts had expected the company to report profit per share of $0.84.
Gross margin improved 80 basis points in the period to 48.2%, compared with 47.4% in the same period of 2012. The increase reflected the continuing shift of its revenue mix toward higher margin businesses as well as lower year-over-year product costs, the company said.
Revenues rose 8% to $3.3bn, driven by double-digit growth in the group's Outdoor & Action Sports, Sportswear, international and direct-to-consumer businesses, and high single-digit percentage growth in its Imagewear coalition.
Analysts had expected revenue of $3.34bn for the quarter.
For the full year, VF Corp said it expects revenue to increase by 7-8%, and EPS to increase 11-13% to $3 to $3.05.
When it comes to other issues the apparel industry should be keeping a close eye on in the year ahead, compliance and factory safety, macroeconomic headwinds, trade legislation, and consumer confidenc...
V.F. Corporation (VFC) is a provider of branded lifestyle apparel, footwear and related products. The company offers broad range of products categorized under jeanswear, outdoor & action sports, image...
VF Corp’s unique brand portfolio sees it moving from strength to strength on the global apparel stage. Its decision to focus on its outdoor and action sports division is an astute move given the lucra...
This report provides information, analysis and valuable insight on developments relating to the performance apparel industry in the following categories:...
This report provides information, analysis and valuable insight on developments relating to the performance apparel industry in the following categories: acquisitions, divestments and mergers; corpora...
- DENIM DAYS: Jeans innovation bursting at the seams
- How will TPP emerge from fast-track trade bill?
- Adidas pushing self-governance for suppliers
- 3D printing gears up for fashion industry change
- US fashion industry applauds trade bills package
- China textile and garment firms eyeing Morocco?
- Under Armour hailed "next global athletic company"
- Myanmar garment workers strike deal
- Orta and Garmon launch denim chemical screening
- Gap’s woes “not so easy to fix”