Vans leads VF revenue growth - sportstextiles: Lea SportsTextiles

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Vans leads VF revenue growth

25/07/2016
Vans leads VF revenue growth
VF Corporation, which owns brands including Vans and Timberland, reported total revenue of $2.4 billion for the second quarter of 2016, a 1% increase on the same period last year but slightly below Wall Street’s expectations. Net income was $51 million, 70% lower than the second quarter of 2015.

VF chairman and CEO, Eric Wiseman, said that the company’s second quarter results and the fact that it met expectations in the first half of 2016 gave him “great confidence” that the company will deliver on its “outlook for the full year”.

Vans led the way with a 4% increase in sales, driven by growth in the Americas, Asia-Pacific and Europe. High single-digit growth in Europe came despite elevated inventories.

Outdoor brand Timberland suffered in the second quarter, recording a 7% drop in revenue. This was primarily down to a pronounced decline in sales in the Asia-Pacific region.


Related stories:

VF names new head of international division 09/12/2016
Timberland gives update on CSR initiatives 12/07/2016
VF sells contemporary brands 01/07/2016
VF reports revenue of $2.8 billion in Q1 29/04/2016
VF puts sports group business on the block 31/03/2016

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