VF Corporation, the US apparel and footwear firm, has seen an impressive revenue growth of 6 per cent in the first quarter of fiscal 2019.
The company has attributed the 6 per cent growth, reaching US $ 3.2 billion, to its biggest brands, international and direct-to-consumer businesses as well as the fast-paced growth witnessed in its active and outdoor businesses.
Keeping aside Kontoor Brands, VF’s revenue surged by notable 8 per cent in Q1.
The entire revenue of the year from continuing operations rose by 12 per cent (increase of 13 per cent in constant dollars) to reach US $ 13.8 billion. Also, except acquisitions net of divestitures, the company’s income jumped by 7 per cent, which is an 8 per cent rise in constant dollars.
While emphasising that fiscal 2019 has been a year of huge significance in VF’s history, Steve Rendle, Chairman, President and CEO, VF Corporation, said that the focused commitment of the company all through the year along with its decision to make its Jeans division an independent, publicly trading firm, has helped the company see another year of excellent financial results.
Rendle expects the growth to continue in fiscal 2020. For fiscal 2020, the earnings could very well be around US $ 11.8 billion, which might indicate a rise of another 6 per cent (or a 7 to 8 per cent increase in constant dollars except the effect of acquisitions net of divestitures).
