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VF Corp’s gross margin improves

VF Corporation’s gross margin improved from 48.3 per cent in 2016 to 50.5 per cent in 2018. On an annual basis, VF Corp sources or produces approximately 473 million units spread across more than 30 brands. VF Corp’s products are obtained from its 21 self-operated manufacturing facilities and approximately 1000 contractor manufacturing facilities in over 50 countries. No single supplier represents more than 10 per cent of cost of goods sold. Independent contractors generally own the raw materials and ship finished, ready-for-sale products. In 2017, 23 per cent of VF Corp’s units were manufactured in own facilities (up from 22 per cent in 2016) and 77 per cent were obtained from independent contractors. Products manufactured in own facilities generally have a lower cost and shorter lead times than products procured from independent contractors.

VF Corp offers jeans wear, outdoor and action sports, image wear, sportswear and contemporary brands. The company markets its products under brands like North Face, Wrangler, Timberland, Vans, Lee and Nautica, among others. The company operates manufacturing facilities in the US, Mexico, Central and South America, the Caribbean and Europe. A significant percentage of denim bottoms and occupational apparel is manufactured in these plants as well as a smaller percentage of footwear and other products.