396
Fashion Jobs
BOBBI BROWN COSMETICS
Senior Education Manager, Bobbi Brown, Apac
Permanent · HONG KONG
TOM FORD
Marketing Director, Tom Ford Beauty
Permanent · HONG KONG
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
LOUIS VUITTON MALLETIER
Repair Operations Specialist
Permanent · HONG KONG
LOUIS VUITTON MALLETIER
Specialist - Client Development
Permanent · HONG KONG
LOUIS VUITTON MALLETIER
Senior Specialist - Client Development
Permanent · HONG KONG
BENEFIT COSMETICS
Retail & Operations Manager
Permanent · HONG KONG
CHRISTIAN DIOR COUTURE
Logistics Officer - Sales Administration
Permanent · CAUSEWAY BAY
LORO PIANA
Client Development Manager
Permanent · HONG KONG
BOBBI BROWN COSMETICS
Senior Education Manager, Bobbi Brown, Apac
Permanent · HONG KONG
CHANEL
Business Systems Manager – Learning/Collaboration/Talent
Permanent · TAIKOO SHING
CHANEL
Assistant Payroll Manager - HR Business Services, Asia Pacific
Permanent · TAIKOO SHING
CHANEL
Senior Client Engagement Executive
Permanent · TAIKOO SHING
CHANEL
Senior Manager, People Sustainability Reporting
Permanent · TAIKOO SHING
CHANEL
IT Asset Manager, Asia Pacific
Permanent · TAIKOO SHING
CHANEL
Head of Governance & Operations, Asia Pacific
Permanent · TAIKOO SHING
CHANEL
Merchandising Manager
Permanent · TAIKOO SHING
CHANEL
Head of Learning Ecosystem And Retail Learning & Development, Asia Pacific
Permanent · TAIKOO SHING
CHANEL
Sustainability Manager (Sustainable Built Environment), Asia Pacific
Permanent · TAIKOO SHING
CHANEL
Assistant Project Manager, Asia Pacific
Permanent · TAIKOO SHING
Published
Feb 8, 2023
Reading time
2 minutes
Download
Download the article
Print
Text size

VF Corp sales, earnings dip on lacklustre Dickies, Vans revenues

Published
Feb 8, 2023

U.S. apparel and footwear company VF Corporation announced on Tuesday a 3% decline in revenues for the third quarter to $3.5 billion, or up 3% in constant dollars, with its big four brands down 3% and the balance of its portfolio down 2%.


Supreme


The Denver, Colorado-based company said its The North Face revenue grew 7% to $1.3 billion, while
Vans revenue fell 13% to $0.9 billion and Timberland sales remained flat at $595 million for the three months ending December 31. Dickies brand revenues plummeted 16% to $177 million and the company's other brand (namely, Supreme), fell 2% for the three months.

By region, VF Corp.'s ​EMEA and Americas regions decreased 2%, ​respectively, while its Asia Pacific region fell 7%, on Mainland China Covid-19 restriction woes.

The company recorded a "balanced performance" across both direct-to-consumer and wholesale channels and noted supply chain challenges remained persistent in the quarter "and are being addressed, with actions in place to return to full customer service at a normalized cost."

Quarterly net income fell to $507.8 million from $517.8 million, in the prior-year period.

"​We are pleased to reaffirm the recently communicated full year 2023 EPS outlook with revenue growth at approximately 3%, after navigating an increasingly challenging fiscal Q3," said ​Benno Dorer, interim president and CEO.

"Spending the last few weeks with VF's dedicated and talented teams around the world has reinforced my belief in the tremendous opportunity ahead for our company. We are committed to improving execution through a sharpened focus on the biggest consumer opportunities and enhanced operational performance. Consistent with this objective, we are shifting resource priorities across the Company, including by reducing the dividend, exploring the sale of non-core assets, cutting costs and eliminating non-strategic spend, while enhancing the focus on the consumer through targeted investments.

"We are confident these actions will enable a return to profitable and sustainable growth and, with that, strong shareholder value creation," added Dorer.
 

Copyright © 2024 FashionNetwork.com All rights reserved.