Sales of Vans sneakers are boosting VF Corp. In the second quarter of 2018/2019 financial year, ended last month, on September 30, the revenues of the American giant considerably increased by 15,5%, therefore reaching 3,91 billion dollars, in terms of value, and going beyond expectations (3,87 billion dollars): Vans went up by 26%, while North Face grew by 5%. Conversely, in contrast to such positive trend, Timberland’s incomes have been dropping: -2%. Not considering the most recent acquisitions (Williamson-Dickie, Icebreaker and Altra), the brand augmented its turnover by 6% (at fixed rates of exchange). At the end of the first quarter, VF’s revenues had increased by 23%. In the second three-month period, the company boosted its export by 13%, mostly thanks to Chinese buyers (+21%). Looking at these accomplishments, the group will supposedly improve their estimated earnings for the whole next financial year (2019): revenues will predictably increase by 11%, up to 13,7 billion dollars. “Our accomplishments, achieved in the second quarter, have been remarkably driven by our major brands, alongside international platforms, which are addressed at the company’s consumers, and our job activities”, pointed out Steve Rendle, president and chief executive officer of the US group.
Timberland slips down, but Vans is booming, and North Face is growing: VF Corp’s revenues increase in the quarter (+15,5%)
