×
102 869
Fashion Jobs
NORDSTROM
Asset Protection - Agent - Shoppers World Rack
Permanent · Framingham
BATH & BODY WORKS
Regional Asset Protection Manager - Houston, tx
Permanent · Houston
L BRANDS
Asset Protection Officer - Part-Time - Morse rd, 1st Shift (7am-3pm)
Permanent · Columbus
BATH & BODY WORKS
Regional Asset Protection Manager - Austin, tx
Permanent · Austin
BATH & BODY WORKS
Regional Asset Protection Manager - New Orleans, la
Permanent · New Orleans
L'OREAL GROUP
Salon Business Partner (Saloncentric) - Temecula, ca
Permanent · Temecula
L'OREAL GROUP
Manager, CRM & Digital Platforms
Permanent · New York
SALLY BEAUTY CORPORATE
Field Sales Manager - Cosmoprof
Permanent · Minneapolis
SALLY BEAUTY CORPORATE
Field Sales Manager - Cosmoprof
Permanent · Kansas City
TAPESTRY
Associate Manager, Site Merchandising Lifestyle
Permanent · New York
TAPESTRY
Manager, Materials Development & Sourcing
Permanent · New York
JOCKEY
Area Manager - Pacific Northwest
Permanent · Woodburn
MICHAEL KORS RETAIL INC
Part Time Sales Supervisor, Crabtree Valley Mall, Raleigh, nc
Permanent · Raleigh
MICHAEL KORS RETAIL INC
Full-Time Sales Supervisor Streets at Southpoint Mall; Durham, nc
Permanent · Durham
BANANA REPUBLIC
General Manager- Outlets of Maui
Permanent · Lahaina
BANANA REPUBLIC
General Manager- Colorado Mills
Permanent · Lakewood
NORDSTROM INC
2nd Shift Wrap Area Manager Warehouse - West Coast Omni Center, Riverside, ca
Permanent · Riverside
NORDSTROM
Asset Protection - Security Ambassador - Riverwalk Outlets Rack
Permanent · New Orleans
NORDSTROM
Asset Protection - Security Ambassador - Mission Valley Rack
Permanent · San Diego
NORDSTROM INC
Business Analyst -Inventory Integrity And Quality-Wcoc-Riverside, ca
Permanent · Riverside
OLD NAVY
Assistant General Manager, Merchandise - Regency Square
Permanent · Brandon
OLD NAVY
Asset Protection Agent - Warwick Mall
Permanent · Warwick
Published
Feb 19, 2013
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

VF Corp surpasses $10 billion sales mark

Published
Feb 19, 2013

It is a milestone for the American company — VF Corp has surpassed the symbolic threshold of 10 billion dollars in sales, even flirting more and more with the number 11. The performance is a result of its policy of acquisitions. Timberland was the most recent purchase, and a pretty important one at that. In 2012, VF saw its sales jump 15% to $ 10.9 billion or about 8.1 billion euros.

The North Face at Ispo Show in Munich (Photo Juan Pablo de la Cruz Gutierrez)



The Timberland acquisition in 2011 alone accounted for 907 million dollars in additional sales, or more than half of the growth. But VF is managing pretty well. All divisions are up for the fourth quarter, with the exception of the Contemporary Brands division, down mainly due to the sale of John Varvatos.

From October to December, Outdoor & Action Sports sales increased by 6% to $1.7 billion. The North Face and Vans each rose 4 and 21%. However, the just-acquired Timberland is down -4% because of poor performances reported for America and Europe.

The Jeanswear division (Lee and Wrangler) increased 4% at constant exchange rates, with Europe again being at fault for the modest rise. Sportswear (Nautica, Kipling) sales spiked 15%.

International sales, which account for 37% of the Group's business, rose 7% to 11% in Asia, 10% in America and 5% in Europe. “We are confident that we are the best positioned group in the industry,” said Eric Wiseman, the head of VF.

For the fourth quarter, the gross margin increased from 45.2% in 2011 to 47.4% for this year. Operating income increased 28% to $457 million. And net income grew by 32% to $344 million.

For the full year, the gross margin was 46.5% versus 45.8% in 2011, revenues grew by 17% to $1.5 million and net income grew by 18% to $1.1 million.

For 2013, management expects sales to increase by about 6% to reach $11.5 billion. Only the Outdoor & Action Sports division is expected to grow in the double digits.

VF expects international sales to increase 10%, positioning it to reach 38% of total turnover. In spite of the economic downturn in Europe, the company even predicts sales growth for the region, but in the single digits.

Copyright © 2021 FashionNetwork.com All rights reserved.