60 087
Fashion Jobs
Store Business Lead | Garden State Plaza
Permanent · Paramus
Stock Lead, Part- Time, Levi’s® Retail, 34th Street, New York
Permanent · New York
Abercrombie & Fitch - Manager in Training, Victoria Gardens
Permanent · Rancho Cucamonga
General Manager - Santana Row (New Store)
Permanent · San Jose
Senior Director, General Manager, Palo Alto
Permanent · Palo Alto
Store Protection Specialist
Permanent · Hyattsville
Asset Protection Detective, Santa Anita - Standard Part Time
Permanent · Arcadia
Asset Protection Security Guard, The Market at West Bend - Part Time
Permanent · Tarrant
Asset Protection Security Guard, Herald Square - Full Time
Permanent · New York
Asset Protection Detective, Roosevelt Field - Part Time
Permanent · Garden City
Asset Protection Detective, City Creek Center - Full Time
Permanent · Salt Lake City
Asset Protection Detective, Pentagon City - Full Time
Permanent · Arlington
Asset Protection Detective, Serramonte - Full Time
Permanent · Daly City
Asset Protection Security Guard, San Francisco Union Square - Full Time
Permanent · San Francisco
Asset Protection Security Guard, Brea - Flex
Permanent · Brea
Asset Protection Security Guard, Santa Anita - Standard Part Time
Permanent · Arcadia
Asset Protection Detective, Sacramento Downtown Plaza - Part Time
Permanent · Sacramento
Asset Protection Security Guard, Roosevelt Field - Flex
Permanent · Garden City
Asset Protection Security Guard, Market by Macy's, Southlake Town Square - Full Time
Permanent · Southlake
Asset Protection Security Guard, Wolfchase - Part Time
Permanent · Bartlett
Asset Protection Security Guard, Southcenter - Part Time
Permanent · Seattle
Asset Protection Security Guard, Las Vegas Fashion Show - Flex
Permanent · Las Vegas
May 20, 2022
Reading time
2 minutes
Download the article
Click here to print
Text size
aA+ aA-

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

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.


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.