In light of recently completed acquisitions, divestitures, and organisational realignments, VF Corp says its new reportable segments are Outdoor, Active, Work and Jeans. Total revenue from continuing operations increased +23% in the first-quarter of 2019 (up +21% in constant dollars) to US$2.8 billion. Revenue in the Active segment increased +25% (up +22% on a constant basis) including a 35% (32% constant) increase in the Vans brand revenue, while revenue in the Outdoor segment was up +6% in the period (+3% in constant dollars). International revenue increased +27% (+22% constant), including a 13-percentage point revenue growth contribution from acquisitions.

“We are executing well against our 2021 growth plan and continuing on our journey to reshape the portfolio and transform VF into a purpose-led, performance driven, consumer-centric organisation focussed on and committed to delivering superior returns to shareholders”, said Steve Rendle, Chairman, President and CEO, VF Corp.

Total operating income on a reported basis was US$231 million in the quarter (US$250 million on an adjusted basis, +57%), while the operating margin on a reported basis increased 130 basis points to 8.3% and adjusted operating margin increased 200 basis points to 9%.

VF Corp, which owns brands such as Timberland, says full year fiscal 2019 revenue is now expected to be in the range of US$13.6-13.7 billion, reflecting a 10-11% increase, and adjusted earnings per share are forecast to be in the range of US$3.52 to US$3.57 (+12% to 14%).