VF Corporation’s jeanswear business decreased five per cent in the fourth quarter. Earnings per share on a reported basis were down 33 per cent compared to the same period last year. Adjusted earnings per share for the fourth quarter increased three per cent. VF Corporation is an international apparel and footwear company and has brands like Wrangler, Lee.
Wrangler brand revenues dipped one per cent in the fourth quarter. The brand’s revenue saw a high single-digit rate decrease in Europe and a 20 per cent decline in the Asia Pacific region. Full year revenue for Wrangler was down one per cent. Lee’s revenue saw a larger decline. The brand’s fourth quarter revenue decreased 13 per cent. Full year revenue for Lee declined three per cent.
For the full year, VF’s global jeanswear revenue was down two per cent. Looking ahead, VF remains cautionary, expecting revenue to increase at a low single-digit percentage rate. Meanwhile the corporation has reduced its global carbon emissions by 12 per cent from 2011 to 2015.
VF achieved these reductions while seeing vast expansions to its business, adding more than 500 sites to its global operations within the five-year period – a 40 per cent increase driven mainly by retail store expansion.