Booming sales in its outdoor division and a revenue bump from the newly formed contemporary brands segment lifted earnings for VF Corp. during the third quarter and pushed revenues beyond $2 billion.
“These results, in this environment, prove that VF has the right brands and strategies to win,” said Mackey McDonald, chairman and chief executive officer, in a statement.
For the three months ended Sept. 29, the Greensboro, N.C.-based apparel giant saw earnings improve 4.8 percent to $207.2 million, or $1.84 a diluted share, compared with earnings of $197.7 million, or $1.75 a share.
Revenues for the quarter vaulted 14.5 percent to $2.07 billion from $1.81 billion in the same period a year ago. Sales rose 14.6 percent to $2.05 billion from $1.79 billion, while royalty income increased 8.5 percent to $20 million from $18.5 million.
For more, see Friday’s issue of WWD.