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VF Corp reports 9% revenue drop

VF Corporation, owner of Vans, The North Face, and Timberland, saw a 9% YoY revenue drop to $1.9 billion for the three months ending June 30. The net loss increased from $57.4 million to $258.9 million. The North Face’s sales fell 3% to $524.2 million, Vans dropped 21% to $581.8 million, Dickies declined 15% to $116.8 million, and Timberland decreased 10% to $229.4 million. US revenue decreased 12% to $1.04 billion, EMEA fell 5% to $550 million, and Asia-Pacific dropped 3% to $310 million. In July, VF Corporation sold Supreme to EssilorLuxottica for $1.5 billion to repay debt and stated there are no current plans to sell other businesses.

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