Record Q2 revenues and earnings at VF
US-based branded lifestyle apparel company VF Corporation has published record results for the second quarter of 2006.
Revenues rose by 8% to $1,566.8 million compared with $1,452.1 million in the second quarter of 2005, fuelled by growth across its outdoor, jeanswear, imagewear and sportswear divisions. Net income in the current quarter increased to $99 million compared with $96.7 million in the prior year's quarter, which benefited from $7.7 million in special items.
For the first six months of 2006, revenues were up 7% to $3,232.6 million from $3,034.3 million in the 2005 period and income rose 7% to $227.2 million from $211.4 million.
The outdoor division enjoyed another quarter of double-digit growth, with total revenues up 24% to $371 million, with strong gains both domestically and internationally. The North Face brand continued its momentum in the quarter with a revenue increase of 16%, while Vans, JanSport, Reef and Kipling brands each increased revenues by in excess of 20% in the quarter.
Total revenues for the sportswear division, which includes the Nautica and John Varvatos brands as well as the Kipling brand in