VF Corporation which owns and runs brands like Vans, The North Face, Timberland, Wrangler and Lee, has announced the financial results for the first quarter ended June 30, 2018.
During the reporting quarter, the firm noted 23 per cent increase in revenue from continuing operations to US $ 2.8 billion; while the revenue from continuing operations increased 12 percent which excludes the revenue contribution from acquisitions.
Operating income for the retailer came up to US $ 231 million on a reported basis in the first quarter. On an adjusted basis, operating income increased 57 percent to US $ 250 million, including an US $ 20 million contribution from acquisitions.
VF Corporation’s active segment revenue increased 25 per cent which includes a 35 per cent increase in Vans brand’s revenue. Revenue for outdoor segment noted 6 per cent increase which includes an 8 per cent increase in The North Face brand revenue and a 6-percentage point revenue growth contribution from acquisitions.
The company’s international revenue surged 27 per cent. Its direct-to-consumer revenue increased by 22 per cent with digital revenue up 54 per cent.
The 2019 revenue is expected to grow by 10-11 per cent to be in the range of $13.6 billion to $13.7 billion.
