Strong results for VF despite transformation - sportstextiles: Lea SportsTextiles

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Strong results for VF despite transformation

23/05/2019
Strong results for VF despite transformation
VF Corporation has reported net revenues of more than $13.8 billion for its most recently completed business year, which ended on March 31, 2019.

This figure represents an increase of 12% compared to the previous financial year.

Its outdoor segment, which includes Timberland, The North Face, Icebreaker, Smartwool and others contributed revenues of more than $6.4 billion, an increase year on year of 9%.

Its active segment, which includes Vans, Napapijri and other brands, contributed $4.7 billion, up by 16% compared to the previous business year.

Specifically, VF said Vans had increased its revenues by 24% over the year, while the corresponding figure for The North Face was 9%.

Chief executive, Steve Rendle, said on announcing the results: “Fiscal 2019 marked one of the most significant periods of transformation in VF’s 120-year history, highlighted by our announcement to spin off our jeans business as an independent, publicly traded company. Despite the tremendous workload, we remained sharply focused and delivered another year of strong financial results.”


Related stories:

Senior appointment to promote European expansion for Icebreaker 13/08/2019
Vans targets Europe with top appointment 30/07/2019
The North Face applies Futurelight to footwear 17/07/2019
VF names new supply chain chief 03/06/2019
VF completes separation into two companies 29/05/2019

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