NEW YORK – A rebound in its Lee jeans business and double-digit gains from the Vans and the North Face brands kept the momentum rolling at VF Corp. in the second quarter, pushing the company to its 11th consecutive quarter of record sales and earnings.
“We’re headed for another record year, with strong momentum across most of our brands and businesses,” said Mackey McDonald, chairman and chief executive officer, in a statement.
For the three months ending in June, the Greensboro N.C.-based apparel giant reported a 2.4 percent earnings gain to $99 million, or 88 cents a diluted share, compared with earnings of $96.7 million, or 85 cents a share, in the same period a year ago. Revenues for the quarter rose 7.9 percent to $1.57 billion from $1.45 billion. Sales rose 7.8 percent to $1.55 billion from $1.44 billion. For the first six months earnings spiked 13.8 percent to $227.2 million, or $2.02 a share, from $199.6 million, or $1.75 a share. Revenues rose 6.5 percent to $3.23 billion from $3.03 billion. Sales also rose 6.5 percent to $3.19 billion from $3 billion.