Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Vans fuels revenue growth at VF

US fashion group VF Corporation, owner of brands including Vans, Timberland and The North Face, reported revenue was up 6% year on year to $2.3bn (£1.8bn) for its first quarter to 29 June. 

This was led by a 21% revenue rise across China and 12% revenue growth in the US. Total international growth was up 2% year on year.

Footwear brand Vans was the most successful in driving revenue in the quarter, and was up 23% from the same period in 2018. The North Face followed with a 9% increase, while Timberland revenues rose by 2%.  

VF’s adjusted gross margin for the last quarter was up 54.4%, and adjusted operating margin 7.2%.

Adjusted revenues for the 2020 financial year are predicted to grow by 6% to $11.8bn (£9.4bn). 

Steve Rendle, VF chairman, president and chief executive officer, said: “Our first-quarter results demonstrate the power of VF’s evolved portfolio and our progress along our journey to become a purpose-led, performance-driven, value-creating enterprise anchored in our commitment to be more consumerminded and retail-centric in everything we do. As a result of our strong results and increased confidence in the full year, we are raising our fiscal 2020 outlook, including an additional $20m (£16m) of investments aimed at accelerating growth and value creation in fiscal year 2020 and beyond.”

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.