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current news

VF Projects $5 Bill. Growth by ’15

(Filed Under Financial and General Interest News). VF Corporation, which markets activewear and lifestyle apparel under Lucy Activewear, Nautica, The North Face and other labels, presented a five year growth plan during its investor meeting on March 11. The company’s plan includes adding $5 billion in revenues and $5 in earnings per share from 2010 levels.

“VF’s momentum continues to build,” said Eric Wiseman, chairman and C.E.O of the company, who presented the plan along with other management personnel. “We’re approaching the next five years with confidence, and with the belief that the full potential of our brands is just beginning to unfold. We have a strategic plan in place to drive revenues at a 10 percent annual rate over the next five years. Our goal is to reach $12.7 billion in revenues by 2015. Growth will come domestically and internationally, across all coalitions, and in both our wholesale and direct-to-consumer businesses.”

A key aspect of the $5 billion is an expected $3 billion from the outdoor and action sports division, which has grown by 17 percent on average over the past five years. By 2015, VF expects these categories to account for at least half of its total revenues.

The company expects sportswear, imagewear and contemporary brands to bring in a combined $1 billion over the next five years.

more Financial and General Interest News >>

Published 03-17-2011 by Amanda Torres Price

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