VF Corp’s stunning results in the first 9 months: revenue is almost 10 billion (+14%). Vans performs well, timberland is stable

Vans continues its unstoppable growth, while Timberland is stable (but increases net revenue). VF Corp has published its 3rd-quarter results for the current fiscal year (that ended on December 29th), which closed with sales worth 3.9 billion USD (+8% with current exchange rates, and +10% with constant rates), outperforming the 3.87 billion USD sales’ target set by Wall Street. On a ratified base, the company earned 1.31 USD per share, again outperforming the expected 1.1 USD that was set as target. In the first 9 months of the year, the group generated 10.635 billion USD of revenue (+14% on a yearly base). Moreover, catching one’s eye is the net income, which reached 1.1 billion USD in value, which in the previous time period in 2018, the number was only 405.7 million. The reason for this steep increase is the performance of Vans. Sales grew by 25% in the third quarter (+27% with constant exchange rates), and in the first 9 months the growth was of 28% (29% at constant rates). The group highlights how the performance of the footwear segment of the brand (which grew 25%), is better than that of the accessories segment for the brand (+20%). Meanwhile, Timberland’s sales remain flat: +1% in the third quarter, and stable in the first 9 months (+3% with constant exchange rates and +1% in the first 9 months). A note in the group’s statement also makes clear how their sales of ‘non-classic’ footwear also performed well, growing in sales’ number in the double digits. Geographically speaking, North America is pulling the wagon, while Europe grows at a slower pace (for Vans), while Timberland is in the negative in this region. The North Face also reached an increase in sale for 14% in the quarter ending on December 29th, and a +10% in the first 9 months (+16% and +10% with constant rates). The group has raised its forecasts for the whole year. Now the company foresees total revenue to grow between 12% and 13%, against the previously forecasted +11%, and thus reach 13.8 billion USD.

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