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VF Corp Q1 revenues up six per cent

VF Corp’s first quarter revenues rose six per cent. Excluding acquisitions and divestitures, adjusted revenue increased nine per cent. Active segment revenue increased eight per cent including a 20 per cent increase in Vans’ brand revenues. Outdoor segment revenue increased seven per cent including a nine per cent increase in The North Face brand revenue and a two-percentage point revenue growth contribution from acquisitions.

International revenue increased two per cent during the first quarter. Excluding acquisitions and divestitures, and on an adjusted basis, international revenue increased four per cent. China revenue increased 21 per cent. The company’s direct-to-consumer revenue increased 14 per cent while digital revenue increased 24 per cent.

VF Corp is one of the world’s largest apparel, footwear and accessories companies. Q1 results demonstrate the power of VF’s evolved portfolio and its progress to becoming a purpose-led, performance-driven, value-creating enterprise, with a commitment to be more consumer-minded and retail-centric. With positive results, VF is raising its fiscal 2020 outlook, including additional investments aimed at accelerating growth and value creation in fiscal year 2020 and beyond. VF Crop now expects its full year fiscal 2020 adjusted revenue from continuing operations to grow approximately six per cent.

 
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