×
80 872
Fashion Jobs
MACY'S
Asset Protection Detective, Fashion Place - Full Time
Permanent · Murray
COTY
Senior Digital And Ecommerce Technology Manager
Permanent · New York
COTY
Senior Manager, Platform Engineering
Permanent · New York
L'OREAL GROUP
Manager - Omni Operations
Permanent · St. Petersburg
L'OREAL GROUP
Senior Production Manager - Cell
Permanent · Piscataway
L'OREAL GROUP
Avp - Sourcing, Raw Materials
Permanent · Clark
L'OREAL GROUP
Account Executive – Skinceuticals (Dallas tx)
Permanent · Dallas
L'OREAL GROUP
l'Oréal Travel Retail Americas - Transportation And Customs Coordinator
Permanent · Miami
JCREW
Associate Manager
Permanent · Dallas
BLOOMINGDALE'S
Planner - Center Core
Permanent · NEW YORK
JOCKEY
Full-Time Benefits Eligible Associate Manager at Jockey - San Clemente, ca
Permanent · San Clemente
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Bridgewater
Permanent · Bridgewater
BLOOMINGDALE'S
Outlet Keyholder Selling, Full Time - Outlets at Orange
Permanent · Orange
KATE SPADE
sr. Analyst, fp&a
Permanent · New York
JCPENNEY
Buyer Beauty Color
Permanent · Plano
JCPENNEY
General Manager
Permanent · Saginaw
JCPENNEY
Creative Packaging Art Director
Permanent · Plano
URBN
Urban Outfitters Buyer - Dresses
Permanent · PHILADELPHIA
URBN
Anthropologie Senior Fabric Manager
Permanent · PHILADELPHIA
URBN
Anthropologie Senior Design Director
Permanent · PHILADELPHIA
SACK OFF 5TH
Asset Protection Investigator
Permanent · WRENTHAM
SACK OFF 5TH
Asset Protection Investigator
Permanent · LIVERMORE
Published
Apr 30, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

VF Corp revenue, earnings slip as international, direct-to-consumer businesses thrive

Published
Apr 30, 2017

VF Corporation on Friday released its first quarter results that were “right in line with our expectations,” according to VF Corp. President and CEO Steve Rendle. The first quarter marked as the company’s first results since announcing its 2021 growth plan that involves expanding its direct-to-consumer business, its international business, and its top performing brands.


Vans, one of VF Corp.'s leading brand - Vans

 
“The company’s largest brands and international and direct-to-consumer platforms performed well, delivering solid results against a retail backdrop that continues to experience significant dislocation,” said Rendle.
 
International revenue increased 2%, including 5% growth in China, and the direct-to-consumer revenue increased 6%, with digital revenue up 25%. In addition, Outdoor & Action Sports revenue increased 2% with leading brands The North Face and Vans increasing 6% and 5%, respectively.

Despite the increases, first quarter revenue from discontinuing operations decreased 2% to $2.6 billion and earnings per share on a reported basis was down 8% to $0.52 compared to $0.56 per share in the previous year.
 
VF also reported a $5.5 million net loss from discontinued operations related to the estimated loss on the sale of the Licensing Business. The company entirely exited the licensing business, which includes the JanSport brand collegiate business, and the Licensed Sports Group business that VF is selling to Fanatics.
 
The company on April 4, 2017 reached an agreement to sell its Licensed Sports Business, including the Majestic brand, to Fanatics, which is replacing Majestic as a partner of Major League Baseball.
 
VF Corp also updated its 2017 outlook to exclude the Licensing Business. The company now expects its fiscal year revenue to increase at a low single-digit percentage rate and for earnings per share to be down at a low single-digit percentage rate compared to 2016 adjusted EPS of $2.98.

Copyright © 2023 FashionNetwork.com All rights reserved.