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VF ANNOUNCES RECORD THIRD QUARTER SALES AND EARNINGS; INCREASES DIVIDENDS BY 11 PERCENT

 VF ANNOUNCES RECORD THIRD QUARTER SALES AND EARNINGS;
 INCREASES DIVIDENDS BY 11 PERCENT
 WYOMISSING, Pa., Oct. 21 /PRNewswire/ -- VF Corporation (NYSE: VFC) today announced record results for the third quarter and nine months ended Oct. 3, 1992. Net income increased 42 percent to $77 million or $1.29 per share in the third quarter from $54 million or $.92 per share in last year's quarter. Sales for the third quarter rose 35 percent to $1.1 billion, compared with $835 million in the 1991 period.
 For the first nine months of 1992, net income increased 47 percent to $166 million or $2.79 per share, compared with $113 million or $1.92 per share in the prior year. Sales increased 33 percent to $2.8 billion from $2.1 billion in the prior year period.
 "I am pleased to report that our third quarter results reflect the same positive trends we have been experiencing throughout 1992, with strong performances across the board," said Lawrence R. Pugh, chairman, president and chief executive officer. "Consumer demand for all VF product categories continues to be strong. VF is meeting the needs of the consumer by providing product value and leading brands in all channels of distribution, which are supported by our state-of-the-art replenishment systems and a strong U.S. manufacturing base."
 Mr. Pugh continues, "Sales and margins continue to expand in jeanswear, with VF's brands continuing to gain market share. In intimate apparel, our efforts to return the Vanity Fair division to more normal levels of profitability have been successful. And in fleecewear and T-shirts, the strength of our Lee branded products is driving significant growth. With a record 1992 in view, we are looking forward to further growth in 1993 and beyond. Our confidence in our strategic direction and our commitment to shareholder value are evidenced by an 11 percent increase in our quarterly cash dividend to shareholders."
 The board of directors increased the quarterly cash dividend rate by $.03 to $.30 per share. The dividend is payable Dec. 18, 1992 to shareholders of record as of the close of business on Dec. 8, 1992.
 VF CORPORATION
 Consolidated Income
 (In thousands, except per share amounts)
 Three months ended 10/3/92 9/28/91
 Net sales $1,125,294 $834,844
 Costs and expenses 1,000,984 746,969
 Income before income taxes 124,310 87,875
 Income taxes 47,754 34,122
 Net income $ 76,556 $ 53,753
 Earnings per common share
 Primary $1.29 $ .92
 Fully diluted 1.25 .89
 Average number of common shares
 outstanding 58,703 57,151
 Nine months ended 10/3/92 9/28/91
 Net sales $2,795,430 $2,102,162
 Costs and expenses 2,524,162 1,916,661
 Income before income taxes 271,268 185,501
 Income taxes 104,818 72,568
 Net income $ 166,450 $ 112,933
 Earnings per common share
 Primary $2.79 $1.92
 Fully diluted 2.71 1.86
 Average number of common shares
 outstanding 58,439 57,076
 Consolidated Balance Sheets
 (In thousands)
 10/3/92 9/28/91
 Assets:
 Cash $ 39,533 $ 143,639
 Accounts Receivable 609,052 433,697
 Inventories 721,861 503,456
 Property, Plant and Equipment 641,795 547,237
 Intangible Assets 465,035 425,767
 Other Assets 110,848 85,021
 Total $2,588,124 $2,138,817
 Liabilities and Shareholders' Equity:
 Current Liabilities $ 807,951 $ 526,613
 Long-term Debt 587,489 634,108
 Other Liabilities 91,576 89,707
 Redeemable Preferred Stock, net 10,669 6,717
 Common Shareholders' Equity 1,090,439 881,672
 Total $2,588,124 $2,138,817
 VF Corporation is an international apparel company headquartered in Wyomissing and is a leader in the jeanswear, activewear, intimate apparel and occupational apparel markets. Its principal brands are Lee, Wrangler, Rustler, Marithe & Francois Girbaud, Basset-Walker, Jantzen, JanSport, Vanity Fair, Vassarette, Barbizon, Red Kap, WorkWear and Healthtex. In 1992, VF ranked 152nd in Fortune's "500 Largest U.S. Industrial Corporation."
 -0- 10/21/92
 /CONTACT: Gerard G. Johnson, vice president and chief financial officer of VF Corporation, 215-378-1151/
 (VFC) CO: VF Corporation ST: Pennsylvania IN: TEX SU: ERN


TS-EE -- NY046 -- 2851 10/21/92 11:48 EDT
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Date:Oct 21, 1992
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