Vans Continues Growth Streak in Q4Friday, February 15, 2013
Action-sports clothing and shoe maker Vans Inc. was the top performer for parent VF Corp.’s outdoor and action-sports division during the fourth quarter ended Dec. 29.
Cypress-based Vans saw its revenue grow by 21% during the fourth quarter, or 22% in constant currency.
VF doesn’t break down revenue by brand, but last year it disclosed that Vans had about $1 billion in sales for 2011. That disclosure came when the company announced plans to about double Vans’ sales by 2016.
Vans’ Americas division saw revenue up 14%, while its European business jumped almost 60% in constant currency.
VF Corp.’s outdoor and action-sports division’s overall revenue grew 6% during the fourth quarter to $1.7 billion. The division includes the company’s North Face and Timberland brands.
VF said it expects Vans’ revenue to increase 20% in the current year.
VF, along with Palo Alto-based private equity firm Altamont Capital, earlier this year put in a bid for Australian action-sports apparel maker Billabong International Ltd. The offer amounts to $550.8 million, matching one from a consortium led by Billabong Americas President Paul Naudé.