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VF Corporation raises outlook

VF Corporation has raised its full-year fiscal 2019 outlook after a 6% revenue increase in its second-quarter results.

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Revenue for the full year is now expected to grow at least 11% to a total of $13.7bn (£10.5bn), as opposed to previous estimates of $13.6bn.

Its core brands – Vans, Timberland and The North Face – performed well, reporting combined revenue growth of 11%. Vans had a particularly strong quarter. It was the only brand in the portfolio to report double-digit growth in its own right, at 26%.

VF Corporation’s workwear brands, which include Dickies, Walls and Workrite, grew the most – by 125%. Its “active” sector, incorporating revenue from brands including Vans, Kipling, Eastpak and Jansport, had growth of 19%. Outdoor brands The North Face, Timberland, Smartwool, Icebreaker and Altra grew by 6%. Jeans – which covers Wrangler, Lee, Riders by Lee and Rock & Republic – showed 7% growth.

Digital posted organic growth of 30%, while direct-to-consumer grew 13%.

Steve Rendle, chairman, president and CEO of the group said: “VF’s second-quarter results were strong, driven by our core brands, the company’s international and direct-to-consumer platforms, and our work businesses.”

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