According to a report from SportsoneSource.com, VF's Outdoor & Action Sports businesses achieved record revenues and operating income in the first quarter, due largely to the segment’s two dominant brands, Vans and The North Face, which hit 17% and 20% global revenue growth respectively. Total global revenues in Outdoor & Action Sports rose 16% in the quarter, with revenues in the Americas business rising 12% and international revenues up 21%.
Total direct-to-consumer revenues for Outdoor & Action Sports rose 12% in the quarter, with solid increases in The North Face, Vans and Kipling direct-to-consumer businesses.
Revenues are now expected to rise approximately 10% in 2011, up from previous guidance for an increase of 8 to 9%, due largely to the impact of a weaker dollar in translating foreign currencies, as well as broad-based strength across the businesses.
Supplemental Financial Information
Business Segment Information
|Three Months Ended March|
|Outdoor & Action Sports||$||788,215||$||678,562|
|Total coalition revenues||$||1,958,799||$||1,749,879|
|Outdoor & Action Sports||$||143,905||$||127,027|
|Total coalition profit||318,969||271,042|
|Corporate and Other Expenses||(46,257||)||(41,359||)|
|Income Before Income Taxes||$||257,738||$||209,678|