Coming off a fiscal year where total reported revenues declined by 2 percent to $11.6 billion, VF Corp. is forecasting a tough year-over-year comparison for the three months ending June 30 as the company’s wholesale accounts “right size” their respective inventories.

VFC, which has begun the process of finding a new CEO, expects “a more consistent performance for the remainder of the fiscal year” as it implements strategies to improve overall sales and profitability. Those plans include improved supply chain metrics, continued growth for the North Face, the EMEA region and Direct-To-Consumer segments, and 30 percent fewer SKUs along with less overall inventory.‍

A Closer Look at VF Corp. Brands

The North Face will begin moving into adjacent product categories as it aims to generate significant improvement in the Americas region this fall. Vans, meanwhile, will look to rebound from a difficult FY23 where total brand sales fell 12 percent on a reported basis to $3.68 billion.

A closer look at the most recent 12-month results shows a 17 percent, constant-currency sales increase for The North Face to $3.61 billion, a 4 percent gain for Timberland to $1.78 billion, and a 11 percent decline for Dickies to $725.2 million. The group’s Direct-To-Consumer sales rose by 1 percent on a constant-currency basis to $5.23 billion despite a 4.3 percent decline in the number of D-T-C doors to 1,265.