Double-digit rises in VF’s sports portfolio - sportstextiles: Lea SportsTextiles

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Double-digit rises in VF’s sports portfolio

28/04/2014
Double-digit rises in VF’s sports portfolio
The North Face, Timberland and Vans owner the VF Corporation has beat expectations with its first-quarter venues, driven primarily by the three outdoor brands.

Its Outdoor and Action Sports division grew 14% over last year, with double-digit growth in every region.

VF CEO Eric Wiseman said: “Led by outstanding performance from the Outdoor and Action Sports coalition, which had balanced growth across all channels and geographies, we delivered strong growth in revenue and profitability."

First quarter revenues for The North Face rose 14%, driven by 30% growth in direct-to-consumer sales and a high single-digit increase in the brand’s wholesale business.

Vans' revenues, which represented the highest of any VF brand in the first quarter, were up 20% while revenues at Timberland grew 12%.

VF, which also owns JanSport, Majestic, SmartWool and Reef, has now revised up its expectations for full-year earnings by 8%.

Image: The North Face testing products in the field

Related stories:

Reef branches into ‘outside’ after rapid growth in sector 10/11/2015
Vans fills marketing position left by North Face move 03/12/2014
Timberland drops underperforming suppliers 03/07/2014
VF opens new China distribution centre in expectation of 100% growth by 2017 11/04/2014
Senior management changes at VF Corporation 08/04/2014
$5 million for employees if Bangladesh sites close for safety work 14/03/2014
Timberland wants at least 60 new stores per year in China 18/11/2013
Outdoor and action sport revenues up 6% at VF 23/10/2013
VF announces three innovation centres 27/08/2013

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