VF reports strong third-quarter growth
Outdoor group VF Corporation has announced a 22 per cent boost in its third quarter revenue to USD 3.6 billion (GBP 2.7 billion). The US-based company’s ‘active’ segment figures increased by 25 per cent, which included an 8 per cent rise in revenue from the Vans brand. Growth for VF’s ‘outdoor’ segment was logged as 23 per cent, with a 28 per cent upturn noted for The North Face, and the company’s ‘work’ segment revenue saw a 6 per cent increase. Revenue for the 2022 fiscal year is expected to be almost USD 11.9 billion (GBP 8.8 billion), which would reflect a year-on-year growth of around 28 per cent.
“The broad-based momentum across our brands is testament to the resilience of our diversified portfolio model, which has enabled us to deliver a strong quarter and reaffirm our full year earnings outlook in a challenging environment,” said VF chief executive Steve Rendle, who continued: "I am confident that VF remains well positioned for continued, profitable, long-term growth.”
This article was originally published on page 3 of the February 2022 issue of SATRA Bulletin.