Record Q2 revenues at VF
Branded lifestyle apparel group VF Corporation has posted record results for its second quarter.
Revenues for the period rose 11% to $1.7 billion compared with $1.5 billion in the second quarter of 2007. Income for the current quarter was $104 million compared with $105.8 million in the prior year period.
For the first half of 2008, revenues rose 10% to a record $3.5 billion compared with $3.2 billion for the same period in 2007. Income rose 5% to $253 million from $239.9 million.
President and chief executive officer, Eric Wiseman, said: "We continue to see great momentum in brands such as The North Face, Vans and 7 For All Mankind as well as many of our smaller, emerging brands including Kipling, Napapijri, Eastpak and John Varvatos. We also are very pleased by the consistently strong performance achieved by our Imagewear coalition."
Outdoor revenues grew 17% in the second quarter, with double-digit growth in both its domestic and international businesses. The North Face global brand revenues grew more than 40% in the quarter, while Vans revenues rose 14%.
However, sportswear revenues fell 4% in the second quarter, despite more than 30% growth in its Kipling US and John Varvatos.
