×
192
Fashion Jobs
NEEJ
Business Development Manager
Permanent · MUMBAI
LIFESTYLE BRANDS
Regional Sales Manager, Peter England - Bangalore
Permanent · BENGALURU
KITEX GARMENTS LIMITED
General Manager - Merchandiser
Permanent · ALUVA
ZODIAC CLOTHING CO LTD
Sourcing Officer (Fabric & Garment)
Permanent · MUMBAI
LIFESTYLE BRANDS
Head of Marketing, Louis Philippe - Bangalore
Permanent · BENGALURU
LIFESTYLE BRANDS
Manager - Online Sales &Amp; Merchandising Bangalore
Permanent · BENGALURU
LIFESTYLE BRANDS
Group Manager - E-Commerce Product (B2B)
Permanent · BENGALURU
LIFESTYLE BRANDS
Manager - Product, Louis Philippe
Permanent · BENGALURU
PANTALOONS HO
Senior Executive - Marketing
Permanent · PUNE
LIFESTYLE BRANDS
Manager - Trade Channel, Finance
Permanent · BENGALURU
LIFESTYLE BRANDS
Executive -Key Accounts (Mis),lp
Permanent · BENGALURU
LIFESTYLE BRANDS
Senior Executive - Garment Technician (ww &Amp; Kids), Pdqa
Permanent · BENGALURU
LIFESTYLE BRANDS
Sales Executive - Kannur &Amp; Kasargod
Permanent · BENGALURU
HIGH FASHION GARMENT COMPANY
Manager Humanr Resource (Male) From Mumbai Only
Permanent · MUMBAI
RAJ KHATRI FILMS PVT LTD
Digital Marketing Executive
Permanent · MUMBAI
PANTALOONS HO
Manager - Digital Marketing - Mumbai
Permanent · PUNE
ANANDGUPTA COUTURE
Social Media Marketing & Fashion Design Assistant
Permanent · MUMBAI
DESIGNR
Sales Officer
Permanent · NEW DELHI
NETE.IN
CRM & Logistics Executive
Permanent · MUMBAI
FABINDIA OVERSEAS PVT. LTD.
Retail Planner
Permanent · NEW DELHI
SELECTIVE GLOBAL SEARCH PVT. LTD.
Business Development
Permanent · NEW DELHI
AJIO - RELIANCE INDUSTRIES LTD
Sales Officer
Permanent · KARIMNAGAR

VF Corp meets revenue expectations in Q2, adjusts year outlook

By
Published
today Jul 26, 2016
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

VF Corporation reported its second quarter 2016 financial results on Friday, which was in line with expectations for the quarter according to VF Chairman and CEO Eric Wiseman.


Vans, one of the brands under VF Corporation - Vans


 
Revenue increased 1% to $2.4 billion driven by a 2% increase in revenue for the Outdoor & Action Sports category, and 3% increases for both Jeanswear and Imagewear. The Outdoor & Action Sports category reached $1.4 billion; Jeanswear hit $629 million and Imagewear increased to $255 million.
 
North Face, Vans, Wrangler and Lee Jeans revenues performed well increasing 2%, 4%, 2% and 8%, respectively, but Timberland revenue decreased 7%. The Sportswear category also declined 19% to $115 million including a 20% decrease in Nautica revenue, despite the brand’s recent relaunch.

The poor performing category and brands were offset by the company’s better performing International and Direct-to-Consumer sectors, which increased in revenue by 5% and 6%, respectively.
 
VF Corp also took a $97 million net loss from the discontinued operations of its Contemporary Brands businesses. On June 30, 2016, the company agreed to sell its 7 For All Mankind, Splendid and Ella Moss brands to Delta Galil for $120 million. The company expects the sale to be completed in the third quarter of 2016.
 
Eric Wiseman, VF Chairman and Chief Executive Officer, said, “Earlier this year, we said we would actively manage our portfolio of brands and we’re doing just that. We expect to deliver on our current 2016 outlook and, as a result of the actions we are taking, be even better positioned to provide the strong long-term returns our shareholders have come to expect.”
 
For 2016, VF Corp expects its revenue to increase 3 to 4 percent versus the previous outlook of a mid-single-digit percentage rate increase. The company expects its Outdoor & Action Sports, Jeanswear and Imagewear categories to increase in revenue over the year and for the Sportswear coalition revenue to decline.

Copyright © 2019 FashionNetwork.com All rights reserved.