Timberland and Vans keep business afloat after a terrible 2016 for VF International (-13%): relying on e-commerce for 2017

In the last term of the year net sales amounted to 3,3 billion dollars (3,1 billion euros), that is, steady , compared to 2015 same period. Over the fiscal year, VF International turnover ended up with 11,9 billion dollars (11,2 billion euros), -13% in net profits. Quite bad performance for Denim (both Wrangler and Lee went down), slightly offset by Outdoor branches (+2% on the whole): +1% for Timberland, +6% for Vans. As for retail, good news for sales in direct management stores (+8% in 2016), as much as for e-commerce (+21%). Growth expectations for 2017 rely on digital items (further +25% potentially) and 50 new stores; LV International forecast are good, “low single digit” though. Meanwhile the group management keep changing: new chairman (Brendan Sullivan) for Sportswear, and Karen Murray is appointed senior brand advisor (same department). Aidan O’Meara, currently chairman for Asia and Pacific region, will replace Karl-Heinz Salzburger (close to retirement) as vice-president &group president.



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