US based clothing company VF Corporation which owns and operates numerous apparel brands has announced the financial results for the third quarter.
In the third quarter of fiscal 2019, the operating income of VF Corporation soared 30 per cent to US $ 656 million.
While operating margin was up 15.0 per cent to US $ 592 million, gross margin from continuing operations rose to 51.9 percent.
During the quarter, revenue from continuing operations climbed 8 percent to US $ 3.9 billion.
Active wear business increased by 16 percent. Meanwhile, revenue from outdoor segment climbed 11 percent.
Direct-to-consumer revenue jumped 10 percent and digital revenue increased 24 percent.
“VF’s third quarter results were fueled by strong growth in our largest brands and balanced growth across the core dimensions of our portfolio,” said Steve Rendle, Chairman, President and Chief Executive Officer of the company.
Full yearl 2019 revenue is now expected to increase approximately 12 percent to at least US $13.8 billion.
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