22 February 2024

Another disappointing quarter for VF Corp

The parent company of Vans and The North Face posted a 16% year-over-year decline in revenue in third quarter of fiscal 2024, largely due to a “shift in the timing of wholesale deliveries” by World Footwear.

“Our third quarter top-line performance was disappointing”, stated Bracken Darrell, President and CEO. “However, we are confident the actions we are implementing as part of Reinvent will enable VF to stabilize and then grow revenue and improve operational performance across brands and regions. We have already begun to see the impact of our efforts to right-size the company’s cost structure and improve its inventory position, resulting in stronger-than-expected cash flow and expanded gross margin in the quarter (…) As we approach the end of this fiscal year, my confidence in VF’s future is rising”, he concluded.

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