Source: Company reports/Coresight Research
4Q17 Results
VF Corporation reported 4Q17 revenues of $3.65 billion, up 20.1% year over year and slightly below the $3.67 billion consensus estimate. The company decided during the quarter to sell its Nautica business and is discontinuing operations for the brand.
Adjusted EPS from continuing operations was $1.01, just missing the $1.02 consensus estimate.
For the full year, the company’s revenue increased by 7% year over year, to $11.8 billion, which included a contribution of two percentage points to revenue growth from the acquisition of Williamson-Dickie Manufacturing Company, a family-owned maker of workwear. The purchase was made for $820 million in cash on October 20, 2017.
Management commented that results were stronger than expected and had allowed the company to reinvest about $100 million back into the business.
Additional Details from the Quarter
Coalition Revenues
- Revenues from the Outdoor & Action Sports business increased by 16% and were up 13% on a currency-neutral basis.
- Revenues from Jeanswear increased by 2% and were up 1% on a currency-neutral basis.
- Revenues from Imagewear increased by 176% and were up 176% on a currency-neutral basis.
- Other revenues decreased by 1% and were down 1% on a currency-neutral basis.
