Exhibit 99
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FOR IMMEDIATE RELEASE
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Contact:
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Cindy Knoebel, CFA |
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VP, Financial & Corporate
Communications
VF Services
(336) 424-6189/(212) 841-7141 |
VF CONFIRMS OUTLOOK FOR RECORD FOURTH QUARTER RESULTS
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Revenues anticipated to rise 18% |
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Earnings per share from continuing operations expected to increase
more than 13% |
Greensboro, N.C. December 19, 2007 VF Corporation (NYSE: VFC), a global leader in branded
lifestyle apparel, today reaffirmed its guidance for record fourth quarter revenues and earnings,
which were initially provided on October 18, 2007. The Company plans to release its fourth quarter
results at the close of the market on February 5, 2008. In addition, the Company will initiate
guidance for 2008 and provide a review of its five-year Growth Plan and targets at a company-hosted
meeting and web cast on January 9, 2008.
VFs business model is unique and were seeing it validated as we successfully navigate through
an extraordinary array of challenging cross-currents, said Mackey McDonald, Chairman and Chief
Executive Officer. In addition to having some of the strongest, most authentic and
consumer-connected brands in the world, were also benefiting from our incredible diversity
across brands, geographies, product categories and channels of distribution. Added Eric Wiseman,
President, Were looking forward to finishing this year on a very strong note and have confidence
that we will maintain our momentum into next year and beyond.
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.
Potential risks and uncertainties that could cause the actual results of operations or financial
condition of VF to differ materially from those expressed or implied by forward-looking statements
in this release include VFs reliance on a small number of large customers; the financial strength
of VFs customers; changing fashion trends and consumer demand; increasing pressure on margins;
VFs ability to implement its growth strategy; VFs ability to successfully integrate and grow
acquisitions; VFs ability to maintain information technology systems; stability of VFs
manufacturing facilities and foreign suppliers; continued use by VFs suppliers of ethical business
practices; VFs ability to accurately forecast demand for products; continuity of members of VFs
management; VFs ability to protect trademarks and other intellectual property rights; maintenance
by VFs licensees and distributors of the value of VFs brands; the overall level of consumer
spending; general economic conditions and other factors affecting consumer confidence; fluctuations
in the price, availability and quality of raw materials and contracted products; foreign currency
fluctuations; and legal, regulatory, political and economic risks in international markets. More
information on potential factors that could affect VFs financial results is included from time to
time in VFs public reports filed with the Securities and Exchange Commission, including VFs
Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
About
VF
VF Corporation is a global leader in lifestyle apparel with a diverse portfolio of jeanswear,
outdoor, imagewear, sportswear and contemporary apparel brands. Its principal brands include
Wranglerâ, Leeâ,
Ridersâ, The North
Faceâ, Vansâ,
Reefâ, Eagle
Creekâ, Eastpakâ,
JanSportâ,
Napapijriâ,
Nauticaâ, Kiplingâ,
John
Varvatosâ, 7 For All Mankind®, lucy®,Majestic®
, Lee Sportâ and Red Kapâ.
VF Corporations press releases, annual report and other information can be accessed through the
Companys home page, www.vfc.com.
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