• VF revenues jump 104 percent, raises guidance

    1 month ago - By Fashion United

    Image: The North Face
    First quarter revenue at VF Corporation increased 104 percent or 96 percent in constant currency to 2.2 billion dollars.
    The company said in a statement that excluding the impact of acquisitions, revenue increased 90 percent or 83 percent in constant dollars driven by VF's largest brands and the EMEA and North American regions, which experienced a significant negative impact from Covid-19 in the prior year period.
    Operating results of VF Corporation
    Gross margin for the quarter increased 360 basis points to 56.5 percent, while on an adjusted basis, gross margin...
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  • Michael Kors and Versace parent Capri Holdings raises revenue forecast

    1 month ago - By Fashion United

    Image: Versace via Capri Holdings
    Versace and Michael Kors parent Capri Holdings Ltd on on Friday raised its annual revenue forecast from 5.2 billion dollars to 5.3 bn dollars. The US-based conglomerate navigated the pandemic like most luxury giants, seeing a positive growth in sales of its accessories and ready-to-wear collections at the start of 2021.
    The company said revenue was up 178 percent, with better than anticipated results across all three houses, which includes Jimmy Choo. Sell thru improved significantly with companies holding 20 percent less inventory in comparison to the...
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