VF Corp.: Q3/2022 results reaffirm full year ...
VF Corp.

Q3/2022 results reaffirm full year earnings outlook

(Source: VF Corp.)
(Source: VF Corp.)

Sales from continuing operations of VF Corp. in the 3rd fiscal quarter (Nov. 2021-Jan. 2022) increased 22% to US$3.6 billion. Excluding the impact of acquisitions, sales rose by 15%, driven by the EMEA (Europe, Middle East, Africa) and North American regions, which experienced a negative impact from Covid-19 in the prior year period.
Active segment sales of the apparel manufacturer VF Corp., Greensboro, NC/USA, went up by 25% including an 8% increase in Vans brand sales and a 17% sales growth contribution from acquisitions. The Outdoor segment sales increased by 23% including a 28% surge in The North Face brand sales. Sales from the segment Work increased by 6% including a 4% sales rise in the Dickies brand. International sales expanded by 19% including a 5% growth contribution from acquisitions. While sales in Europe increased by 26%, Greater China saw sales fall by 6%.
Full year fiscal 2022 sales, ending in April 2022, is now expected to be approx. $11.85 billion, reflecting growth of around 28%. This includes an approx. $600 million contribution from the Supreme brand.

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