×
2 495
Fashion Jobs
HARRODS
Brand Manager
Permanent · LAKESIDE
HARRODS
Uniformed Security Officer
Permanent · LONDON
VF INTERNATIONAL
Senior Distribution Systems Specialist
Permanent · COALVILLE
ESTEE LAUDER
Bobbi Brown, la Mer And Darphin - CRM & Insights Assistant
Permanent · London
JOHN LEWIS
Section Manager Customer Delivery Speke Cdh
Permanent · SPEKE
HARRODS
Food Supply Manager
Permanent · LONDON
JOHN LEWIS
Loss Prevention Partner
Permanent · CAMBRIDGE
HEAD OFFICE
Cyber Security Lead – Incident Response
Permanent · BRACKNELL
HEAD OFFICE
Delivery & Operations Manager
Permanent · BRACKNELL
BOOHOO GROUP
Product Manager
Permanent · MANCHESTER
DEBENHAMS
CRM Executive
Permanent · LONDON
PRETTYLITTLETHING
Business Analyst
Permanent · MANCHESTER
PRETTYLITTLETHING
Buying Admin Assistant
Permanent · MANCHESTER
BOOHOO GROUP
Warehouse Operative - pm Shift
Permanent · WELLINGBOROUGH
BOOHOO GROUP
Product Insights Manager
Permanent · MANCHESTER
BOOHOO GROUP
Technical Delivery Manager
Permanent · MANCHESTER
BOOHOO GROUP
Business Analyst
Permanent · MANCHESTER
PRETTYLITTLETHING
Senior CRM Automation Executive
Permanent · MANCHESTER
BOOHOO GROUP
Senior Project Manager
Permanent · MANCHESTER
BOOHOO GROUP
Warehouse Team Manager - Twilight Shift
Permanent · WELLINGBOROUGH
ESTEE LAUDER
Clinique - Consultant - Boots Oracle, Reading - 11 Hours, 2 Days (Sat. Sun.) - Part Time, Permanent
Permanent · Reading
ESTEE LAUDER
Clinique - Consultant - Harrods, London - 37.5 Hours, 5 Days - Full Time, Permanent
Permanent · London
Ads
Published
May 20, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

VF Corp full year revenues, profit dampened by fourth-quarter slowdown

Published
May 20, 2022

VF Corporation announced on Thursday revenues for the fiscal year 2022 surged 28%, despite a slowdown in fourth quarter revenues, hindered by sales lags in its Asia-Pacific market.

Vans


The Denver, Colorado-based company said revenues for the full year ending April 2 totalled $11.8 billion, lead by Vans, up 20% to $4.16 billion, and The North Face, up 33% to $3.26 billion during the twelve-months period. Timberland recorded a 20% uptick in sales to $1.82 billion, while Dickies lifted 19% to $837 million, the company said.

By region, VF Corp's domestic revenues surged 33% to $6.18 billion, followed by its EMEA market, up 30% to $3.34 billion for the year. Asia-Pacific market revenues gained 7%, while the company's Americas (excluding the U.S.) increased 37%.

In the fourth quarter ending April 2, VF Corp revenues increased 9% to $2.8 billion. Growth was slowed by the company's APAC market, which recorded an 11% decrease, partially offsetting 12% growth in its U.S. market, and 15% and 17% increases in the company's EMEA and Americas (excluding the U.S.) markets, respectively.

By brand, The North Face was the star performer, witnessing 24% growth in sales, followed by Timberland and Dickies, registering 9% and 7%, respectively. The company's largest brand by revenue value, Vans, remained flat, while VF's other brands category lifted 11%.

Net income for the fourth quarter fell to $80.8 million, from $89.5 million in the prior-year quarter.

However, VF Corp managed to post a profit uptick for the last twelve months, with net income surging to $1.4 billion for fiscal 2022, compared to $408 million in fiscal 2021.

​"I am pleased with the progress we have made advancing our strategic priorities while successfully navigating another eventful year. We largely delivered on the commitments we made at the outset of fiscal 2022 by achieving broad-based growth across our family of brands," said Steve Rendle, chairman, president and CEO of VF Corp.

"A portion of our active segment did not achieve its potential. We understand the issues, we have the right people in place and we know we will do better. Our performance is testament to the incredible breadth and depth of talent across our organization and our teams continue to be highly resourceful, committed and passionate."

Looking ahead, VF said it expects total revenue for fiscal 2023 to increased by 7% in constant dollars. It expects The North Face revenue to lift by a low double-digit percent, while Vans revenue is projected to be up by a mid-single digit percent.
 

Copyright © 2022 FashionNetwork.com All rights reserved.