The Outdoor and Active Boom Is Boosting Sales for VF Corp.

VF Corp. beat expectations in its earnings for Q1. The results, posted Friday, were largely bolstered by the company’s strength in outdoor and active. Revenue grew 104% to $2.2 billion for VF, the parent company for The North Face, Vans, Supreme and Timberland brands, among others. Revenue for the company’s outdoor segment grew 81%, with The North Face brand revenue rising 93% and Timberland up 70%. VF raised its outlook for its outdoor segment revenue, which it expects to increase between 24% and 26%. Overall, the outdoor industry saw growth in 2020 and beyond, partly thanks to a hiking boom brought on by the pandemic. Men’s hiking boots made up 70% of the category’s sales volume for the first half of 2021, with women’s accounting for 26% of the market, said Matt Powell, senior sports industry adviser with The NPD Group Inc., in a U.S. Sports Market Performance Review presentation earlier this week. However, the women’s hiking category grew twice as fast as men’s. “Whoever’s not appealing to that customer base is missing a huge opportunity,” Powell told FN. “You have to have enough product for her, and you can take calculated risk [in what you carry]. If you’re going to take a

Follow Footwear News on Twitter or become a fan on Facebook.

from Footwear NewsFootwear News https://ift.tt/2VnbPqw