Turnaround required at Vans as VF revenues fall by 10%
Parent group of The North Face, Timberland, Vans, Dickies, Napapijri, Icebreaker, Smartwool and other brands, VF Corporation, has reported full-year revenues of $10.4 billion for the 12 months ending March 2024. This represents a fall of 10% compared to the group’s previous financial year.
Outdoor brand The North Face held its own, achieving revenues of almost $3.7 billion, up by 2% year on year. But the decline in revenues at the group’s other main brands was steep.
Vans brought in around $2.75 billion in revenues, down by 24% compared to the previous year. Timberland’s figures showed revenues of more than $1.5 billion, down by 13%. Workwear brand Dickies brought in $618.4 million, a fall of 15% year on year.
VF Corporation did not break down the performance of its other brands, but listed them together, with combined revenues for the year of $1.8 billion, up by 1%.
Chief executive, Bracken Darrell, said “turning around Vans” was now one of the group’s key priorities.
