Vans Leads for Parent in Q1Friday, April 25, 2014
Cypress-based skate shoe and apparel company Vans Inc. was the top performer for its parent in the first quarter.
Greensboro, N.C.-based VF Corp.'s portfolio of apparel brands is made up of The North Face, Timberland, Wrangler and Lee, among others.
Vans' revenue rose 20%, with its Asia-Pacific business leading with a 40% gain.
Americas revenue rose by the low-teens, while Europe had 20% growth.
VF doesn't break out specific financial performance for each of its brands each quarter. The company disclosed in its annual report that Vans capped last year with $1.7 billion in sales, making it the second largest brand in VF's portfolio after The North Face.
VF reported companywide first-quarter revenue up 6.5% to $2.8 billion. Its first-quarter profit was $298.99 million, up from $267.76 million a year earlier.
VF shares closed up 2% on Friday to a market value of $27.06 billion.