The North Face news and archive

VF withdraws outlook, announces turnaround plan

For its second quarter, VF Corporation’s revenue declined 2 percent or 4 percent in constant dollars to 3 billion dollars. Loss per share for the quarter widened to 1.16 dollars, while adjusted earnings per share were 63 cents versus 73 cents per share in the same period last year. The company has announced a transformation program to drive...

Business

VF stock jumps after Engaged Capital reveals stake in the company

After picking a stake in VF Corporation, activist investment firm Engaged Capital is said to be pushing for cost cuts and board changes, according to a CNBC report. Shares of VF Corp closed at 18.45 dollars, 14 percent higher on Tuesday. Engaged expects the share prices to move upward to 46 dollars within three years if the changes proposed by...

BusinessFeatured

VF Q1 loss widens, revenues drop 8 percent

VF Corporation’s first quarter revenue of 2.1 billion dollars, was down 8 percent with the big four brands down 11 percent and the balance of the portfolio up 7 percent. The North Face revenue of 0.5 billion dollars, was up 12 percent, while Vans brand revenue of 0.7 billion dollars, was down 22 percent. The company’s loss per share of 15 cents,...

Retail

Regent Street remains a retail destination with new openings from Joseph and The North Face

London-based retail estate giant Great Portland Enterprises (GPE) has announed prominent brands The North Face and Joseph have signed retail leases for new Regent Street stores. The North Face is commiting to a 10-year lease at Walmar House, expanding its flagship store by 33 percent to approximately 10,000 sq ft. Joseph secures a sixth London...

BusinessFeatured

VF Q4 revenue and earnings decline

VF Corporation’s fourth quarter revenue of 2.7 billion dollars, was down 3 percent or flat in constant dollars. The company reported a loss per share of 55 cents and adjusted EPS of 17 cents. For the fiscal year 2023, VF revenue of 11.6 billion dollars, was down 2 percent but up 3 percent in constant dollars. EPS decreased to 31 cents and...

Business

VF Corp closes second green bond to bolster sustainable initiatives

US fashion giant VF Corporation has announced the closing of a 500 million euro green bond offering to support its sustainability initiatives. The company, whose portfolio includes Supreme, The North Face, Timberland, and Vans, said an amount equivalent to the net proceeds from the offering has been dedicated to advance its Sustainability &...

BusinessFeatured

VF reaffirms full year EPS outlook

For the third quarter, VF Corporation revenues were down 3 percent on current exchange and up 3 percent in constant dollars to 3.5 billion dollars. The company’s earnings per share (EPS) were down 1 percent to 1.31 dollars, while adjusted EPS declined 17 percent to 1.12 dollars. Commenting on the third quarter trading, Benno Dorer, VF’s interim...

Business

The North Face introduces in-store take back programme in US

The North Face has expanded its upcycling clothing scheme, Renewed, with the launch of an in-store take back programme for its US customers. The retailer first piloted the Renewed Take Back programme in select stores throughout the beginning of September 2022. From November, the offer will now be available across its retail stores and outlets in...

BusinessFeatured

VF's Q2 sales decline, cuts earnings outlook

For its second quarter, VF Corporation reported revenue of 3.1 billion dollars, declined 4 percent and increased 2 percent in constant dollars with big four brands down 5 percent or up 1 percent in constant dollars and the balance of the portfolio up 4 percent or 13 percent in constant dollars. For the first six months, revenue of 5.3 billion...

Business

The North Face’s Van Leeuwen to head brand’s US business

The general manager of The North Face EMEA, Jan Van Leeuwan, is set to become the head of the brand’s US business, according to its owner VF Corp. Van Leeuwen, who has been at VF for over a decade, has held his current position at The North Face for four years and has been credited with helping shape the company and brand over this period. In...

BusinessFeatured

VF Corp lowers FY23 forecast, announces five-year growth plan

US fashion company VF Corporation has lowered its forecast for the current business year and presented its strategy for the next five. For the 2023 financial year, VF Corp, which owns brands such as The North Face and Vans, now expects sales growth to between 5 percent to 6 percent. Its previous guidance, given when it released its first-quarter...

People

The North Face makes two new executive appointments

The North Face has named two new members of its executive team to “help drive marketing and product innovations”. The VF Corp-owned brand named Jennifer Ingraffea as new chief product and merchandising officer. Ingraffea joins from sportswear giant Nike, where she spent the past 19 years, most recently serving as global vice president of kids...