VF Corporation’s revenue surges 20% after Williamson-Dickie acquisition

VF Corp Ethical

VF Corporation’s revenue increased 20 per cent to $3.6 billion (£2.5 billion), boosted by its $247 million (£175 million) contribution of Williamson-Dickie.

The parent company of fashion retailers Vans, The North Face and Timbaland said that without the acquisition of Williamson-Dickie, its fourth quarter revenue increased 12 per cent.

Sales were driven by VF Corporation’s international and direct-to-consumer retail platforms, as well as its outdoor and action sports coalition and workwear businesses.

“VF’s fourth quarter results were stronger than we expected as growth continues to accelerate across core dimensions of our portfolio,” chairman and chief executive Steve Rendle said.

“We delivered a top-quartile total return for shareholders in 2017 and our strong performance provided us with the capacity to reinvest about 100 million dollars back into our business.”

On a full-year basis, revenue increased seven per cent to $11.8 billion (£8.39 billion).

Excluding the Williamson-Dickie acquisition, full-year revenue increased five per cent.

VF Corporation said that because of the change in the company’s fiscal year end to the Saturday closest to March 31 from the Saturday closest to December 31, it will prepare a report for the results for the transition quarter ending March 31 this year.

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