Outerwear and DTC strong for VF in Q2
VF Corporation, the Denver, Colorado-headquartered owner of brands including Vans, The North Face, Supreme and Timberland, has announced a 23% increase in revenue over last year’s comparative period for the second quarter (Q2) of its fiscal 2022.
A particular highlight for the business was its outdoor segment, which saw a 31% rise in revenue, including a 31% boost for The North Face gear. Activewear was up 16%.
Overall, international revenue rose by 18%. Growth was strongest in Europe (19%), whereas Greater China increased by 9% (including a 9% boost in mainland China). Direct-to-consumer (DTC) retail revenue grew by 32%, with digital revenue up 24% (a 54% increase versus the second quarter of fiscal 2020).
Company chairman, president and chief executive, Steve Rendle, commented: “As we move through the halfway point of our fiscal year, I remain encouraged by the underlying momentum across the portfolio. The broad-based nature of this strength gives me confidence that we are driving the right strategy to accelerate growth in the quarters ahead.”
Image: The North Face via Instagram. Credit: @jajatatsu
