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VF Corporation Q2 revenues rose 8 percent

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Staff writer ▼ | July 19, 2014
VF Corporation reported financial results for its second quarter ended June 28, 2014. Revenues rose 8 percent to $2.4 billion driven by double-digit growth in Outdoor & Action Sports, international and direct-to-consumer businesses.
VF Corporation
VF CorporationVF Corporation reported financial results for its second quarter ended June 28, 2014. Revenues rose 8 percent to $2.4 billion driven by double-digit growth in Outdoor & Action Sports, international and direct-to-consumer businesses.


Gross margin was 48.4 percent, down 10 basis points against last year's same period. Continued benefit from the shift of our revenue mix toward higher margin businesses was offset by foreign currency impact, as anticipated, and efforts to aggressively manage inventories especially in our Jeanswear business. The company's expectation for a 90 basis point improvement for the full year remains unchanged.

SG&A as a percent of revenues was down 10 basis points to 39.3 percent.

Operating income increased 9 percent to $220 million in the second quarter, compared with $201 million in the same period of 2013. Operating margin was 9.2 percent compared with 9.1 percent in the second quarter of 2013.

Earnings per share increased 16 percent to $0.36 per share compared with $0.31 per share during the same period last year.


 

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