VF's sportswear Kipling brand sales up 22% in North America
22 Jul '05
7 min read
Outlook
For the full year, company continues to expect another record year in both sales and earnings. Sales are expected to rise approximately 7 percent, excluding any additional acquisitions. They anticipate that sales in the second half of the year will be up approximately 4 percent, which includes the negative impact of a stronger U.S. dollar versus our prior expectations. They expect comparable increases in both the third and fourth quarters.
They now expect that earnings will rise about 10 percent in 2005 to approximately $4.65 per share, reflecting both continued strong performance across most of our businesses during the second half and the special items reported in the most recent quarter. Third quarter EPS should raise approximately 12percent, including a $.08 per share impact from the recognition of certain costs related to the disposition of our Playwear business reported in the third quarter of 2004.
Dividend Declared
The Board of Directors declared a regular quarterly cash dividend of $.27 per share, payable on September 19, 2005 to shareholders of record as of the close of business on September 9, 2005.
North Carolina based VF Corporation is a leader in branded apparel including jeanswear, intimate apparel, sportswear, outdoor products and workwear. Its principal brands include Lee, Wrangler, Riders, Rustler, Vanity Fair, Vassarette, Bestform, Lily of France, Nautica, Earl Jean, John Varvatos, JanSport, Eastpak, The North Face, Vans, Napapijri, Kipling, Lee Sport and Red Kap.
marketing@alchempro.com
