VF Corporation: moving towards +10% in 2019An increase in sales leads to a new revenue forecast.
In the first quarter of the 2019 fiscal year, VF Corporation, owner of the brands Vans, Timberland and North Face, exceeds Wall Street revenue forecasts with a +23% rise in sales to 2.8 billion dollars, and net profits equal to 160.4 million dollars (+46%).
A result that can mostly be attributed to the growth of the active segment, which increased by 25% to 1.1 billion dollars, thanks above all to the performance of Vans (+35%) and the workwear segment that grew by 114% with the brands Timberland Pro and Wrangler. International sales are also on the rise in every area: USA +20%, EMEA +32%, APAC +34%, and China at +45%.
Based on these results, VF Corporation raised its fiscal 2019 revenue forecast to between 13.6 and 13.7 billion dollars, with an estimated growth between +10-11%.