VF Corporation’s revenue is up five per cent in the third quarter. The company, based in the US, owns the brand: Vans, Timberland and North Face. VF Corp, which spun off its denim business as a separate company named Kontoor Brands in May, is exploring strategic alternatives for its occupational work business. Excluding the performance of the occupational work business, the company’s quarterly revenue increased six per cent. Revenues in VF Corp’s active segment were up eight per cent, led by a 12 per cent increase at the Vans brand, while the company’s outdoor segment posted a three per cent rise, including an eight per cent increase at The North Face.
The group’s international revenues increased eight per cent in the quarter, with China, in particular, posting strong growth of 30 per cent, while Europe saw a four per cent rise. Quarterly direct-to-consumer sales increased seven per cent led by a 16 per cent increase in VF Corp’s digital channel. Net income for the quarter was up slightly from the same period in the previous year, while diluted earnings per share increased 11 per cent. Year to date, VF’s net income for the period was up three per cent while diluted earnings per share also rose three per cent.