Could Promotion-Relegation work in College Football?
Outdoor apparel, activewear, and footwear giant VF Corporation reported $2.8 billion in fourth-quarter revenue last Thursday, a 9% year-over-year increase. Full-year revenue reached $11.8 billion, a 28% jump.
VF Corporation includes several brands in its active segment, including Vans, Supreme, and JanSport, with The North Face, Altra Running, and Timberland sitting within its outdoor segment.
- The North Face brought in $800 million in revenue, a 24% year-over-year jump.
- Vans, which sells skateboarding shoes and apparel, recorded $1 billion in revenue, flat from the same period the year prior. The company’s earnings presentation said its wins were “partially offset by lower than planned growth at Vans.”
Still, five of VF Corporation’s brands, including Vans, as well as The North Face and Dickies, achieved record sales during the year. The North Face has grown its annual revenues 21% since 2020 to $3.26 billion.
Room for Improvement
While Vans saw its Global Vans Family membership reach 22 million — a 49% increase over the last 12 months, chairman, president, and CEO of VF Steve Randle wasn’t entirely happy with the company’s performance in the active space.
“A portion of our active segment did not achieve its potential,” Randle said. “We understand the issues, we have the right people in place and we know we will do better.”
