Turnaround required at Vans as VF revenues fall by 10%
Parent group of Vans, Timberland, The North Face, 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.
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.
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.
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.
