VF Corp’s UK and Ireland company saw lower sales again in its latest financial year as shoppers cut back on purchases of new clothes and shoes.
Vans
The company — VF Northern Europe Limited — owns The North Face, Vans, Timberland, Eastpak, Kipling and Napapijri. It said turnover dropped 10% to £321.5 million in the 12 months to the end of March 2025, having dropped 11% in the previous financial year. In the 2022/23 year, turnover had been £401.7 million.
Operating profit also fell, dropping to £8.5 million from £14.9 million and profit before tax was down to £9.8 million from £15.5 million. It all meant net profit for the year was just £7.37 million, down from £13.69 million.
The company said that sales growth is its primary objective and it plans to invest in more owned or franchised activities, which it believes will assist such growth through the traditional channels of distribution. Increasing investment is also being channelled into training and development, focusing on improving all customer-facing activities.
The business also shed over 80 jobs during the year with a headcount cut to 623 from 709.
Two months ago, the firm’s parent company, VF Corporation, reported revenue up 2% to $2.8 billion in the second quarter of the 2026 financial year. It also reduced its net debt by 21% compared to the same period last year.
And it had reported improved business for Q1 back in July, at which point its shares jumped as the earnings report signalled that turnaround efforts were showing results. So it will be interesting to see whether the UK and Ireland ops improved in the latest year too. Unfortunately, we won’t know that for another 12 months.
