VF Group'S Net Profit Increased 7% In The First Quarter.

2012/4/28 10:59:00 19

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VF Group Net Profit Timberland

Yesterday evening, the world's largest clothing manufacturer

VFC announced its first quarter.

Net profit

An increase of 7%, thanks to the new acquisition.

Timberland

(Timberland) brand, North Face brand, and the contribution of international business.

The company also raised its annual profit forecast, but maintained its revenue expectations unchanged.

VF said net profit in the first quarter increased from $201 million a year earlier to $215 million, or $1.91 a share, from $1.82 a share.

Excluding the expenditure related to the acquisition of Tian berun, the company adjusted earnings per quarter for the tune of $1.94, higher than the average expected $1.88 of analysts surveyed by FactSet.

Revenue grew 31%, from $1 billion 960 million in the same period last year to $2 billion 560 million, higher than analysts' average forecast of $2 billion 440 million.

VF said its outdoor and sports apparel department revenue grew 60% to $1 billion 260 million.

The Department includes famous brands such as North Face, Vans, Smartwool and Tian brun.

Chamberlain contributed $356 million in revenue in the first quarter.

International revenue grew by 48%, mainly due to the contribution of Tian berun.

Excluding Tian Bo Lun, the company's revenue in Europe grew by 13%, and Asia's revenue grew by 18%.

The share of international revenue in the company's total revenue increased from 36% in the same period last year to 40%.

However, the rising cost of raw materials in the jeans department has damaged the gross profit margin of the company.

Looking ahead, VF will raise its EPS from the previous 9.30 US dollars to US $9.45, and its revenue is expected to remain unchanged at $10 billion 900 million.

Analysts expect the company to make a profit of $9.40 per share and $11 billion 30 million in revenue.