VF to plough money into biggest brands - sportstextiles: Lea SportsTextiles

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VF to plough money into biggest brands

25/07/2017
Outdoor group VF Corp has reported “solid” second-quarter results, has raised its guidance for 2017 and says it will return $1.8 billion to shareholders over the course of the year.

Revenues increased 2% to $2.4 billion for the three months, including 13% growth in China.

Outdoor & Action Sports revenue increased 4%; Vans revenue was up 8% and The North Face revenue grew 5%.

VF CEO Steve Rendle said: “We have really good momentum as we move into the second half of 2017 and are confident in our growth engines, as evidenced by an increase in our full year outlook and our plan to increase our cash returns to shareholders. We are making growth-focused investments in our largest brands and platforms to generate additional value for our shareholders both in the near and long term.”

Revenue for the year is now estimated at $11.65 billion, up 2%.

Related stories:

Former Vans president returns to VF in new role 29/03/2018
VF names first chief digital officer 07/03/2018
VF decides to sell Nautica brand 23/02/2018
VF to slash ‘environmental footprint’ by half 12/12/2017
VF increases outlook after strong third quarter 24/10/2017
VF adds workwear group to portfolio 15/08/2017
VF pulls out of Argentinean factory 01/08/2017
Communities benefit from VF's volunteering scheme 12/07/2017
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VF responds to Paris Climate Agreement 07/06/2017
New global brand president for The North Face 16/05/2017
VF publishes first Animal Derived Materials Policy 10/05/2017
VF Corporation revenues fall in Q1 but outdoor and action sports perform well 28/04/2017
Stable sales for VF in 2016 20/02/2017
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