The owner of Vans, The North Face and Timberland managed an impressive transformation in the fiscal year ended March 28, 2020, achieving a 2% increase in revenue despite a strong downturn in sales in Q4 due to Covid-19.
The owner of Vans and Timberland announced on Tuesday that it now expects its full-year revenues to total between $11.3 billion and $11.4 billion in fiscal 2020, down from $13.85 billion in the previous year.
As the outbreak continues in China, the American company has announced that it has closed 60% of its stores in the country, but is yet to provide a prediction of the impact the crisis will have on its financial results.
The Denver-based apparel, footwear and accessories company has announced that it has begun a review of alternatives for the occupational portion of its work segment, as it continues with its transformation plans.
FashionNetwork.com visited the European offices of the US sportswear giant to find out about its plans for Europe, where, hit by the ‘yellow vest’ protests in France, it is concentrating on London and Milan.
Following the spin-off of its denim business earlier this year, the Denver, Colorado-based apparel and footwear company has announced a new strategic growth plan, as well as an updated logo and corporate identity.