The Wall Street Journal-20080206-VF Corp-- Increased Net Reflects Sales Gains- Takeovers

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VF Corp.: Increased Net Reflects Sales Gains, Takeovers

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VF Corp. reported a sharp increase in fourth-quarter net income, reflecting the apparel maker's organic sales growth and expansion through acquisitions, such as jeans brand 7 for All Mankind. The company also gave an upbeat outlook for 2008, despite the economic issues hurting many other clothing companies. VF, whose brands also include Wrangler, North Face, Nautica and Vans, said profit in the latest quarter jumped to $164.4 million, or $1.46 a share, from $108.6 million, or 95 cents a share, a year earlier. Sales rose 23% to $1.96 billion from $1.6 billion. The company said it expects first-quarter sales and earnings to increase 8% to 10%, 2008 revenue to rise 9% and earnings to increase 10%. VF has cited its diverse portfolio for its good performance as many other apparel makers and retailers see shoppers cutting back.