US apparel firm VF Corp’s Q4 FY21 revenue grows 23% to $2.6 bn

VF Corporation, a US-based leader in branded lifestyle apparel and footwear, reported 23 per cent revenue increase to $2.6 billion during the fourth quarter (Q4) FY21 ended April 3, 2021, compared to revenue of $2.1 billion in the corresponding period of previous fiscal. The company’s net income rose to $89.5 million (Q4 FY20: loss $483.7 million).
“I could not be more pleased with how our organisation navigated fiscal 2021,” Steve Rendle, chairman, president and chief executive officer at VF Corporation, said in a press release.
Cost of goods sold for Q4 FY21 rose to $1.2 billion ($986.2 million), while selling, general and administrative expenses were $1.2 billion ($1.0 billion). The operating income for the quarter rose to $122.5 million (loss: $256.7 million).