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Saturday, March 2, 2024

The North Face, Vans Parent Posts $3.6B in Quarter

  • VF Corporation reported strong results in fiscal Q3.
  • The outdoor apparel, sportswear, and footwear giant posted $3.6 billion in revenue.
The-North-Face-VF-Corp
The North Face/Design: Alex Brooks

Outdoor apparel, sportswear, and footwear giant VF Corporation reported strong results in its latest earnings report on Friday. 

The Denver-based company — which owns Timberland, Vans, Supreme, and The North Face — generated $3.6 billion in revenue in fiscal Q3, a 22% year-over-year increase. 

VF posted third-quarter revenue growth despite the modification of its business practices, including travel restrictions and temporary office and retail store closures. 

  • Its active segment — led by Vans — posted $1.4 billion in revenue, up 25% year-over-year.
  • The company’s outdoor segment generated $1.9 billion in revenue, up 23% year-over-year. 

VF’s strong results allowed the company to return roughly $500 million in cash to shareholders during the quarter. VF also reported that the majority of its supply chain is currently operating. 

A Supreme Deal

In December 2020, VF completed its acquisition of global streetwear brand Supreme in a deal valued at $2.1 billion. VF projects full-year revenue to reach about $11.85 billion, up 28% compared to FY2021. Roughly $600 million of VF’s full-year revenue is expected to come from Supreme.

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