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VF Corp. Forecasts 40 Percent Digital Growth This Fiscal Year

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VF Corp., parent company of The North Face and Vans, generated global digital sales growth of more than 80 percent in its fiscal first quarter, including a 115 percent increase in the Americas region and nearly a 90 percent jump across its four largest brands for the period ended June 30. Digital sales were 83 percent higher for Vans; 124 percent for The North Face; 63 percent for Timberland and 45 percent for Dickies.

For its second quarter, VFC saw sequential improvement in July, with overall revenues down less than 25 percent, fueled by significant improvement at Vans and Dickies. Vans is forecast to be down less than 15 percent in the period, with Dickies expected to see sales growth in the mid-single digits. Approximately one-third of Vans’ U.S. business and 25 percent of its topline is generated in the states of California, Florida, Texas, Arizona and New York, VFC senior executives told analysts last week. Each of those states has been impacted significantly by store closures prompted by the ongoing pandemic.