VF's sportswear Kipling brand sales up 22% in North America
22 Jul '05
7 min read
He continued, "Earnings rose more than company anticipated during the quarter, due to particularly robust sales in their Outdoor and Sportswear coalitions, which in turn are driving higher gross margins.
Two noteworthy examples in the quarter were company Vans brand, where it is benefiting from very strong product launches and the success of a new retail merchandising format, and company Nautica brand, where company experienced a double-digit sales gain and a big improvement in profitability. Company is gratified by the sales increase posted by their U.S. jeanswear business during the quarter."
Jeanswear
Total Jeanswear sales, which include the Wrangler, Lee, Riders, Rustler, H.I.S, Maverick and Old Axe brands, rose 2 percent in the quarter, to $597 million versus $586 million in last year's second quarter, with increases in both international and domestic jeans sales.
Sales in company Mass Market and Western Specialty businesses were robust, while their Lee brand business declined. The increase in international jeans sales resulted from favorable foreign currency exchange rates. Jeanswear operating income increased 9 percent, including the aforementioned reductions in benefit accruals that were greater than required by local laws. The effect in any prior period was not significant.
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