| FOR IMMEDIATE RELEASE |  Contact: Cindy Knoebel VP, Financial & Corporate Communications VF Services, Inc. (336) 424-6189/(212) 841-7141 |
VF CORPORATION RAISES FIRST QUARTER GUIDANCE
Greensboro, NC — April 17, 2006 — VF Corporation (NYSE: VFC) announced today that it now expects
a 12% to 14% increase in first quarter earnings per share, a substantial improvement from its
earlier guidance. Previously, the Company indicated that it expected first quarter earnings per
share to be up slightly over the $1.00 per share (diluted) reported in the prior year’s quarter
before a one-time cumulative effect adjustment of $.10 per share related to the adoption of new
accounting rules for stock-based compensation. The Company continues to anticipate a sales increase
of approximately 5% in the quarter, in line with its initial guidance.
According to Mackey J. McDonald, Chairman and Chief Executive Officer, the higher than expected
earnings are due primarily to stronger than anticipated results in the Company’s domestic Jeanswear
business resulting from improved performance of the Lee® brand as well as continued solid results
across the Company’s Mass and Specialty jeans businesses. He also noted that the Company’s Outdoor
coalition continued its very strong momentum in the quarter.
The Company will provide additional details on its first quarter results, and will also update its
full year guidance, when it releases first quarter earnings on April 25. The Company will hold a
conference call the same afternoon at 2:30 p.m. EST.
The call will be broadcast live over the Internet via www.vfc.com. For those who are unavailable
to listen to the live broadcast, a replay will be available shortly after the call on the above web
site for two weeks.
Cautionary Statement on Forward-looking Statements
Certain statements included in this release are “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting VF and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements.
Certain statements included in this release are “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting VF and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements.
Known or unknown risks, uncertainties and other factors that could cause the actual results of
operations or financial condition of VF to differ materially from those expressed or implied by
such forward-looking statements are summarized in our Annual Report on Form 10-K and other
documents filed with the Securities and Exchange Commission.