(Source: Datamonitor)
Apparel retailer VF Corporation has reported a net income of $115.86 million, or $1.05 per diluted share, for the fourth quarter of 2008, compared to $164.41 million, or $1.46 per diluted share, in the same quarter of 2007.
For the fourth quarter of 2008 revenues decreased 2% to $1.91 billion, compared with $1.95 billion in the fourth quarter of 2007.
For 2008, revenues increased 6% to $7.64 billion from $7.22 billion in 2007. Net income was $602.75 million, or $5.42 per diluted share, compared to $591.62 million, or $5.22 per diluted share, in 2007.
Eric Wiseman, chairman and CEO of VF, said: "The strength of VF's business model was reflected in our 2008 performance, with record revenues and strong earnings despite extraordinarily challenging economic conditions. Our powerful brands, diversity and strong financial condition, combined with a history of exceptional operational execution, should all work to our advantage as we continue to navigate through these uncertain times."
A service of YellowBrix, Inc.
