{"id":5145,"date":"2009-02-10T13:47:49","date_gmt":"2009-02-10T21:47:49","guid":{"rendered":"http:\/\/www.boardistan.com\/?p=5145"},"modified":"2009-02-11T18:41:05","modified_gmt":"2009-02-12T02:41:05","slug":"vf-corp-2008-year-end-analysts-call","status":"publish","type":"post","link":"http:\/\/www.boardistan.com\/?p=5145","title":{"rendered":"VF Corp 2008 Year-End Analysts&#8217; Call"},"content":{"rendered":"<p><a href=\"http:\/\/www.boardistan.com\/wp-content\/uploads\/2009\/01\/vfcorp.jpg\" onclick=\"window.open('http:\/\/www.boardistan.com\/wp-content\/uploads\/2009\/01\/vfcorp.jpg','popup','width=176,height=109,scrollbars=no,resizable=yes,toolbar=no,directories=no,location=no,menubar=no,status=yes,left=0,top=0');return false\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.boardistan.com\/wp-content\/uploads\/2009\/02\/vfcorp-tm.jpg\" height=\"61\" width=\"100\" border=\"1\" align=\"right\" hspace=\"4\" vspace=\"4\" alt=\"Vfcorp\" \/><\/a>During the 2008 Q4\/Year End conference call with analysts, <strong><a href=\"http:\/\/www.vfc.com\/\" target=\"_blank\">VF Corp<\/a><\/strong> CEO <strong>Eric Wiseman<\/strong> said that the company will &#8220;remain very interested in acquisitions&#8221; for 2009. Though he said they were going to be very careful with their acquisitions and he didn&#8217;t mention any companies by name.<\/p>\n<p>The biggest news of the call is that <strong>Vans<\/strong> is crushing, which isn&#8217;t news to anyone. &#8220;At Vans we enjoyed an extremely positive year,&#8221; said <strong>Stephen Murray<\/strong>, President of <strong>VF Corp&#8217;s<\/strong> Action Sports Americas. &#8220;Domestic sales were up 13 percent and we were up in every category except snow, and that is a small percentage of our business.&#8221; More Vans notes:<\/p>\n<ul>\n<li>Footwear sales up 11 percent<\/li>\n<li>Apparel and accessories grew by 40 percent<\/li>\n<li>Launch of boys apparel line was particularly successful<\/li>\n<li>Direct-to-consumer business grew 20 percent<\/li>\n<li>Vans stores saw an 8 percent increase in sales<\/li>\n<li>E-commerce grew by 40 percent<\/li>\n<li>The company plans to open more Vans stores outside California in areas where they feel their retail distribution is lacking<\/li>\n<\/ul>\n<p>Follow the jump for info on <strong>Reef<\/strong> and <strong>VF Corp<\/strong> Overall. . .<br \/>\n<!--more-->The story at Reef was obviously not as good: &#8220;2008 was a tough year,&#8221; Murray said.  &#8220;Sales in the core channel were down 4 percent for the year; 11 percent in the fourth quarter.&#8221;<\/p>\n<ul>\n<li> <strong><a href=\"http:\/\/www.boardistan.com\/?p=3854\">Sized down Reef<\/a><\/strong> to react to the market<\/li>\n<li> In December Reef went the licensing route with girls apparel<\/li>\n<li> For 2009 Reef will focus on core competancies: sandals, T-shirts, hats, and boardshorts.<\/li>\n<\/ul>\n<p>Overall VF Corp cleaned up considering the market pressures and the rest of the players in the space:<\/p>\n<ul>\n<li>Full year revenues up 6% with EPS reaching a record $5.42<\/li>\n<li>Strong 2008 cash flow from operations: $679 million<\/li>\n<li>Q4 revenues and EPS in line with prior guidance<\/li>\n<li>Outdoor momentum continued in Q4 with revenues up 13%<\/li>\n<li>2009 EPS expected to be in line with 2008<\/li>\n<li>Plan to open 70 stores in 2009<\/li>\n<li>$100 million in cost savings planned for 2009<\/li>\n<\/ul>\n<p><strong>[Link: <\/strong><strong><a href=\"http:\/\/phx.corporate-ir.net\/phoenix.zhtml?c=61559&amp;p=irol-newsArticle&amp;ID=1255171&amp;highlight=\">VF Corp<\/a><\/strong><strong>]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>During the 2008 Q4\/Year End conference call with analysts, VF Corp CEO Eric Wiseman said that the company will &#8220;remain very interested in acquisitions&#8221; for 2009. Though he said they were going to be very careful with their acquisitions and he didn&#8217;t mention any companies by name. The biggest news of the call is that [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[10,16,12],"tags":[],"_links":{"self":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/5145"}],"collection":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5145"}],"version-history":[{"count":22,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/5145\/revisions"}],"predecessor-version":[{"id":5232,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/5145\/revisions\/5232"}],"wp:attachment":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5145"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}