Turtle Bay awards $50,000 in grants and scholarships. The Moss Adams Apparel Market Monitor shows that public companies, with the exception of the Youth Lifestyle category, continue to outperform the overall stock market. Now on Industry Insight.
The Next $5 Billion: VF Corporation Announces New 5-Year Growth Targets and Strategic Growth Drivers
Leadership team outlines strategy to add $5 billion in revenue growth and $5 in earnings per share by 2015
GREENSBORO, N.C.--(BUSINESS WIRE)-- VF Corporation (NYSE:VFC - News), a global leader in branded lifestyle apparel, today is announcing new 5-year financial targets at its investor meeting in New York City. Eric Wiseman, Chairman and Chief Executive Officer, and other members of VF’s management team will be discussing the company’s plans to reach its 2015 goals of adding $5 billion in revenues and $5 in earnings per share growth from 2010 levels.
“VF’s momentum continues to build,” said Wiseman. “We’re approaching the next five years with confidence, and with the belief that the full potential of our brands is just beginning to unfold.
"We have a strategic plan in place to drive revenues at a 10 percent annual rate and earnings at a 12 percent annual rate, with operating margins rising to 15 percent over the next five years. Our goal is to reach $12.7 billion in revenues by 2015. Growth will come domestically and internationally, across all coalitions, and in both our wholesale and direct-to-consumer businesses.”
Key components of the $5 billion in expected revenue growth include:
The meeting is also focusing on international and direct-to-consumer growth plans and targets, including:
On page 2: Expanding margins and strong cash generation