Today was a pleasurable, not to mention, refreshing day in that I was able to listen to a conference call where an apparel / retail company posted fantastic results and also increased their guidance. Today, VF Corp (VFC) announced an 11% increase in revenues, higher gross margins, and growth in both their domestic and international markets.  Also, during the call, it was great to hear a team that was so enthusiastic about their results and the future they believe lay ahead of the company.  However, rather than an empty dog & pony show, management exhibited that they have a strong grasp on the drivers of the busines and effectively answered all the questions posed to them by analysts. Granted, the Q&A really wasn’t that aggressive, but management was very forthright with information and details concerning their forecast for the second half of 08′.

     If you don’t know of VF, the company is a leader in lifestyle apparel with a corral of brands that includes The North Face, Vans, Jansport, Reef, Eagle Creek, and a host of others.  They also operate retail stores under some of their more recognized brands such as Vans and The North Face. Reflecting on their results, perhaps the value of a longer-term management team is helping this company navigate the more difficult economic environment we’re currently in.  The CEO has been with the company in various roles since 1995, the CFO since 1986, and the SVP of Global Operations since 1996.  All these individuals have progressed to their current positions through a number of different roles within the company.  There’s alot to consider about “tribal knowledge” and it’s potential influence on VF’s current numbers.

Thanks for reading…..

Jeffrey Ishmael