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Record profits for VF Corp

VF Corporation, the branded fashion house behind Seven For All Mankind, Vans and Wrangler, has posted record results for the first quarter helped by booming international sales.

First quarter revenues rose 10% to US$1.85 million (£927m) while international business grew by 20% against last year.

However, the firm’s domestic denim business, which includes the Wrangler, Riders and Lee brands, was hit by a 13% dip in revenues. VF Corporation also said it would axe its Nautica womenswear range.

The contemporary brands division, consisting of Seven For All Mankind and Lucy, showed year-on-year growth, contributing US$96m (£48m) to first quarter revenues and US$15m (£7.5m) to operating income.

Revenues at VF Corporation’s outdoor arm, which includes The North Face, Vans and Kipling, leapt 18% for the quarter.

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