VF Signals Slow Sales as Vans Wholesale Rebound Stalls
The apparel and footwear company’s revenue fell 4% to $2.7 billion in the second quarter
By
Adriano Marchese
Updated ET
VF posted a higher profit in the second quarter. ANDREW KELLY/REUTERS
VF gave a subdued third-quarter revenue outlook as a prolonged wholesale slump at its flagship Vans brand overshadowed a higher quarterly profit.
The footwear and apparel company, which is also behind The North Face and Altra brands, reported overall Vans revenue fell by 9.8% in the second quarter due to continued wholesale destocking, even as direct-to-customer sales for the sneaker brand turned positive for the first time in nearly five years.
