The North Face and Timberland owner reports reco - sportstextiles: Lea SportsTextiles

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The North Face and Timberland owner reports record profits

18/02/2013
VF Corp, the group that owns outdoor brands the North Face, Timberland and Vans, reported revenues exceeding $1 billion for the first time for 2012.

Profit rose 29% in the fourth quarter to a record $334.2 million, despite a mild winter in the US affecting sales.

VF CEO Eric Wiseman said: “Our performance is confirmation of our greatest competitive advantage – the diversity of our portfolio. It’s this strength, along with our focus on driving operational excellence into all areas of our business, that enables our brands to deliver the industry’s most innovative and meaningful products while deepening relationships with our customers and consumers.”

The company said it expects 2013 earnings to be up 9%.

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