Vans Inc. revenue was up 7% in the third quarter, leading the Greensboro, N.C.-based parent, VF Corp.’s outdoor and action sports group that includes the North Face and Timberland brands and had $2.3 billion in revenue for the period.
VF didn’t provide specific sales totals for Vans, the Cypress-based shoe and apparel brand that had full-year revenue of $2.2 billion in 2015.
Vans’ recent growth was “driven by a high single-digit percentage rate increase in the Americas business and more than 20% growth in Asia-Pacific,” according to VF. Those gains more than offset a “low single-digit percentage rate decline in Europe.”
The North Face was down 1%, while Timberland was “in line with last year’s third quarter.” VF, whose sales added up to $3.48 billion in the third quarter, said it expects the outdoor and action sports group’s revenue to increase at “low single-digit percentage rate compared with previous expectation of mid-single-digit growth due primarily to proactive inventory reductions by both The North Face and Timberland brands related to fourth quarter wholesale orders..”
VF’s market value is about $22 billion.