US brand VF Corp forecasts revenue of $11.85 bn in FY 2022

By geographic region, in the EMEA region, revenue is likely to be between 28 per cent and 30 per cent. In the Asia Pacific region, revenue is expected to be up between 7 per cent and 9 per cent. And, in the Americas (non-US) region, revenue is likely to increase between 33 per cent and 35 per cent.

By segment, revenue for Outdoor is now likely to grow between 26 per cent and 28 per cent versus the previous expectation of a 25 to 27 per cent increase; revenue for Active is now expected to improve between 31 per cent and 33 per cent as compared to the earlier expectation of a 35 to 37 per cent growth; revenue for Work is still likely to increase between 19 and 21 per cent.

Direct-to-consumer revenue is now forecast to climb between 32 per cent and 34 per cent versus the previous expectation of 34 per cent and 36 per cent, including digital revenue growth of greater than 15 per cent versus the previous expectation of about 20 per cent.

"We delivered strong double-digit top and bottom line results and returned about $500 million in cash to shareholders in the third quarter, all of which has been achieved amidst continuing macro headwinds,” said Steve Rendle, VF chairman, president and CEO. "The broad-based momentum across our brands is testament to the resilience of our diversified portfolio model, which has enabled us to deliver a strong quarter and reaffirm our full year earnings outlook in a challenging environment. I am confident that VF remains well-positioned for continued, profitable, long-term growth.”

In the third quarter of fiscal 2022, revenue grew 22 per cent to $3.6 billion. Excluding the impact of acquisitions, revenue increased 15 per cent, driven by the EMEA and North American regions, which experienced a negative impact from COVID-19 in the prior year period.

International revenue in the fourth quarter rose 19 per cent, including a 5 percentage point revenue growth contribution from acquisitions; Europe revenue increased 26 percent; Greater China revenue decreased 6 per cent.

ALCHEMPro News Desk (RR)