VF Corp’s footwear quarterly statement mirrors the current business trend apparently. Vans’s sneakers went up by 26%, whereas Timberland went down by 2% as deliveries, to be made at the end of September, were delayed till October, therefore till the quarter after, thus affecting the estimated turnover (-5%). On the whole in the third quarter revenues of VF Corp (who also own The North Face, Wrangler and Lee) increased by 5,4% up to 3,5 billion dollars (+4% at fixed exchange rate) thus going beyond estimated incomes. Net profit decreased by 22,5% down to 386,1 million dollars. Chairman and Ceo Steve Rendle raised expectations for 2017, whose turnover might go up to 12,1 billion dollars (+6% roughly), better than expected, as previous estimated earnings were 11,85 billion dollars (+3,5%).
Sneakers reward VF Corp as Vans drives their quarterly growth. Conversely Timberland slows down
