Footwear brand contrasts at VF Corporation
VF Corporation has reported revenues of almost $7.4 billion for the first nine months of its current business year, the period ending December 28. This represents a decline of 4% compared to the same period a year earlier.
Revenues at The North Face for the nine-month period were more than $2.8 billion, flat compared to the same months in the previous year.
At Timberland, revenues went up, increasing by 1% to reach almost $1.25 billion for the period. But the figures for Vans continue to disappoint, with revenues of just over $1.8 billion. This is a fall of 14% year on year.
In isolation, figures for the third quarter were more encouraging. The North Face brought in revenues of $1.25 billion, up by 5% compared to the same quarter a year earlier. Growth in this quarter for Timberland was 11%, with revenues reaching $527 million.
For Vans, there was still a decline in the third quarter, but with revenues over the three months of $607 million, the fall was less steep at 9%.
Chief executive, Bracken Darrell, said there had been strong progress in the third quarter and that transformation of the group remained on track.
