Record results at VF
Lifestyle apparel group VF Corporation has posted record results for its fourth quarter and full year 2007.
Fourth quarter revenues rose 22% to a record $1.96 billion compared with $1.6 billion in the fourth quarter of 2006. Growth was driven by 12% organic growth and 10% growth from its 2007 acquisitions, including Seven For All Mankind and lucy activewear. Full year revenues increased 16% to $7.22 billion from $6.22 billion in 2006.
Income for the fourth current quarter increased 16% to a record $164 million compared with $141 million in the prior year period. Full the full year, income rose 15% to $613 million from $535 million.
Its outdoor division saw total revenues rise 32%, with domestic revenues up 34% and international revenues up 28%. The North Face, Vans, Kipling, Eastpak and Napapijri brands each posted double-digit revenue gains in the quarter, while the acquisition of the Eagle Creek brand added $7 million to revenues for the quarter.
Revenues for the sportswear division increased 6% during the quarter with growth in the Kipling and John Varvatos brands both exceeding 35%.
