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 Breaking Headlines

VF's Outdoor Business Posted 14% 3Q Growth

OCTOBER 21, 2005 -- VF's Outdoor business had an outstanding 3Q in both sales and profitability. Sales rose 14% in the quarter to $521 million from $457 million, with the newly acquired Reef brand contributing $18 million of the increase. Outdoor operating income rose 28%, with operating margins expanding to 21.5% from 19.1%, resulting from the strong volume gains and a sharp improvement in the profitability of the Vans business during the quarter.

The North Face brand continued its momentum, with sales up 23% in the quarter and increases across all product categories. VF's owned retail stores are also performing very well, with com-store sales in the US running 17% above prior year levels. Spring '06 bookings for the brand are extremely strong, up 30%.

Kipling and Napapijri brands also experienced solid sales growth in the quarter, with stable results for Vans, JanSport and Eastpak. VF remains excited about the prospects for Kipling and Napapijri. In September, it opened a Kipling flagship store in London and has opened 16 stores internationally through distributors in '05. YTD, Kipling experienced double-digit growth in Spain, the UK and Germany. Spring bookings for Napapijri are up 18%, with particularly strong growth in Germany and France. The newest store opened recently in Munich and the first store in the US, in New York City, opens next spring.


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Categories
Sporting goods industry
Sales
Stores

Companies
3Q Inc.
Napapijri
Reef
The North Face Inc.
JanSport Inc.

Concepts
outdoor operating income
volume gains
product categories
owned retail stores
double-digit growth





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