North Face 2007 Annual Report Download - page 28

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OUR FIVE-YEAR
VISION FOR SUCCESS
$11 BILLION IN REVENUES
We raised our long-term revenue growth target to 8 to 10% annually, which
would increase VF’s revenues from over $7 billion today to $11 billion in 2012.
33% OF REVENUES FROM INTERNATIONAL MARKETS
We will be a bigger force globally in five years, boosting our percentage
of international revenues from 28% in 2007 to 33% in 2012.
2007
$11 BILLION
$7 BILLION
2012
2007
$7 Billion
2012
$11 Billion
33%
28%
VF CORPORATION | 42
VF CORPORATION | 43
By expanding our margins, we aim to increase earnings faster than revenues,
to deliver 10 to 11% annual earnings per share growth over the next five years.
10 –11% EPS GROWTH
We’ve established a new operating margin target of 15%, which we expect to
achieve by leveraging our revenue growth, enhancing our business mix and
continuing to focus relentlessly on cost reduction.
15%
OPERATING MARGIN
VF’s outlook for growth and
profitability is stronger than ever. In
January 2008, we announced a new
five-year growth plan, highlighted
by the following targets.