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Article Date: April 2016
Word Count: 527

VF Net Dips On Currency Headwinds


VF net income was 10% lower at $260,269,000 from $288,709,000 but would have been flat currency neutral in the first quarter ended Apr. 2 on flat revenues of $2,809,124,000 vs. $2,803,302,000 with Outdoor & Action Sports and Jeanswear both positive. Outdoor & Action Sports revenues increased 2% (+4% constant currency) to $1,644,395,000 from $1,606,889,000 but operating profit slid 13% (flat CC) to $227,771,000 from $260,820,000. OAS direct-to-consumer sales grew low-teens. In VF’s other coalitions, Jeanswear gained 2% to $710.6 million, Imagewear fell 5% to $269.1 million, Sportswear was down 13% to $118.4 million and Contemporary Brands dropped 15% to $74.3 ... Log in to view full article.

 


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