VF Corp, a global leader in branded lifestyle apparel, footwear and accessories, has recorded revenue of $3 billion in first quarter of 2018, the companys, revenue soared 12 per cent including a $233 million revenue contribution from the Williamson-Dickie acquisition.

The company's gross margin increased to 50.8 per cent, as benefits from a mix-shift towards higher margin businesses and changes in foreign currency were partially offset by the impact of the Williamson-Dickie acquisition.

Operating income on a reported basis was $311 million. On an adjusted basis, operating income increased 14 per cent to $330 million, including a $16 million contribution from the Williamson-Dickie acquisition. Operating margin on a reported basis decreased to 10.2 per cent. Adjusted operating margin went down to 10.8 per cent. Adjusted operating margin, excluding the Williamson-Dickie acquisition, declined to 11.2 per cent.

VF is in the midst of a transformation to become a purpose-led, consumer-centric organisation. Steve Rendle, chairman, president and chief executive officer stated that VF's transition period results were strong as the broad-based growth acceleration that began in the second half of 2017 continue the core growth engines are driving strong global momentum as it began to enter the acceleration phase of 2021 strategy.

International revenue is expected to increase 13 per cent to 15 per cent. By geographic region, European revenue is expected to increase 13 per cent to 15 per cent. In the Asia Pacific region, revenue is expected to increase 15 per cent to 17 per cent. And, in the Americas (non-U.S.) region, revenue is expected to increase 10 per cent to 12 per cent.

The company forecasts gross margin to be about 51 per cent and operating margin by approximately 13.2 per cent. The adjusted earnings per share is expected to be in the range of $3.48 to $3.53, reflecting growth between 11 per cent and 13 per cent.