NEW YORK- VF Corp. posted a 1.7 percent rise in fourth-quarter earnings Wednesday, led by sales strength from its denim and outdoor apparel and equipment categories but offset by declining sales in intimates and sportswear.
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The company earned $127.5 million, or $1.13 a share, versus $125.3 million, or $1.10, a year ago. Total revenues rose 4.2 percent to $1.65 billion from $1.58 billion last year. In fiscal 2005, VF earned $506.7 million, or $4.44, compared with $474.7 million, or $4.21, last year. Annual revenues totaled $6.5 billion up from $6.12 billion last year. “We have strong momentum behind our plans to transform VF into a company driven by dynamic, growing lifestyle brands,” Mackey J. McDonald, chairman and chief executive officer of VF, said in a written statement.
Revenues are seen advancing 4 to 5 percent in 2006, VF said, while earnings per share are expected to grow at a higher rate than sales at about 6 to 8 percent.