Record Q3 results at VF

24/10/2006

US apparel company VF Corporation has posted record results for the third quarter of 2006.

Revenues rose 12% to $2,033.8 million compared with $1,822.1 million in the third quarter of 2005. Net income increased by 10% to $197.7 million compared with $179.6 million in the prior year quarter. Foreign currency translation benefited revenues by $24 million.

For the first nine months of 2006, revenues were up 8% to $5,266.3 million from $4,856.4 million in the 2005 period. Income rose 9% to $424.9 million from $391.1 million.

Revenues for the company’s Outdoor coalition were up 25% to $659 million; domestic revenues grew 20% in the quarter while international revenues rose 37%.

Revenues for the Jeanswear Coalition were up 6% with growth in both its domestic and international businesses. Double digit growth was achieved in Mexico, China and Russia for this sector.

Total revenues of the company’s Sportswear coalition increased 6% in the quarter.

Full year revenues are now expected to be up by approximately 8% in 2006 and fourth quarter revenues are forecasted to increase by approximately 6%.