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VF Corporation scores record Q2 revenues

VF Corporation, the US company behind denim brands Wrangler and 7 For All Mankind, saw second quarter revenues rise 11% to a record $1.7 billion (£846 million).

VF Corporation's second quarter income was virtually flat at $104 (£52m) million versus $105.8m (£52.6m) for the same period last year.

International revenues were up 23% for the period.

For first half of the year VF Corporation saw sales rise 10% to $3.5bn (£1.74bn) and income from continuing operations was up 5% to $253m (£126m).

VF Corporation's outdoor division, which includes The North Face, Eastpak and Vans brands, performed exceptionally well with sales up 17% and double digit growth in both its domestic and international markets.

However the jeanswear division, which takes in the Wrangler, Lee and 7 For All Mankind brands, saw revenue fall back 1% over the quarter. Strong growth in international denim sales offset a fall in sales in the domestic US market.

VF Corporation president and chief executive Eric Wiseman said: "Our ability to deliver record revenues and earnings per share in the face of exceptionally challenging economic conditions clearly demonstrates the strength and resilience of VF's business model - which is based on powerful brands, excellent geographic and retail channel diversity, and consistent execution."

Wiseman added: "We continue to see great momentum in brands such as The North Face, Vans, and 7 For All Mankind as well as many of our smaller, emerging brands including Kipling, Napapijri, Eastpak and John Varvatos."

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