Reorganises management, brand portfolio and beat analysts’ estimates in the second quarter of 2017. The US group, Vans, The North Face And Timberland, rose revenue by 2%, reaching $ 2.36 billion and surpassing forecasts, at $ 2.32 billion. The first half ended with a turnover of $ 4.414 billion (€ 4.241 million), a drop of -0.3% compared to the same period of 2016. Profits grew by 2.5% ($ 319 million). In the second quarter, sales of Vans (+ 8% thanks to sneakers and e-commerce) and The North Face (+ 5%) were positive and together accounted for 45% of total sales, while Timberland grew by 2%. At a geographic level, performance in China is excellent (+ 13%). “We will continue to reshape our portfolio and accelerate growth,” said Steve Rendle, chairman and chief executive officer of the company that took over Eric C. Wiseman’s retirement. By the end of 2017, the US company expects to reach a turnover of $ 11.65 billion, up 2% on the previous year.
VF (Vans, The North Face and Timberland) grows more than expected and renews management VF Corp
