VF’s third-quarter revenues rise 22%
28/01/2022
The Active segment revenue increased 25%, including an 8% rise in Vans’ revenue; the Outdoor segment grew 23%, including a 28% uplift for The North Face; and the Work segment revenue increased 6%.
Full year fiscal 2022 revenue is now expected to be $11.85 billion, reflecting growth of around 28%, including an approximate $600 million contribution from the Supreme brand.
In June 2021, VF completed the sale of its Occupational Workwear business, which included Red Kap, VF Solutions, Bulwark, Workrite, Walls, Terra, Kodiak, Work Authority and Horace Small.
COVID-19-related manufacturing capacity constraints continued during the third quarter but VF expects to be back to nearly full capacity in the coming weeks. It is working with its suppliers to minimise disruption and is employing expedited freight.
VF CEO Steve Rendle said: "The broad-based momentum across our brands is testament to the resilience of our diversified portfolio model, which has enabled us to deliver a strong quarter and reaffirm our full year earnings outlook in a challenging environment. I am confident that VF remains well-positioned for continued, profitable, long-term growth.”
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