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CIT TRADE FINANCE: Middle-market retailers cautiously optimistic for holiday.
Details on Industry Insight.
What consumer slowdown? The parent company of Vans, Reef, The North Face, Wrangler, 7 For All Mankind and other brands reported a strong quarter Thursday.
Here are some highlights:
Revenues rose 15 percent to $2 billion
Net income rose 4.8 percent to $207.2 million
Third quarter revenues for the outdoor group rose 22 percent to $806 million. The North Face, Vans, JanSport, Kipling and Napapijri each recorded double digit revenue gains in the quarter.
VF raised its guidance for the year. The company now expects revenues to rise 15 percent, up from 14 percent. Profits should rise 13 percent, up from 12 percent.