VF Corp UK and Ireland slashes jobs as sales and profits drop
VF Corporation, the owner of brands including Timberland, The North Face and Vans, has cut almost 90 jobs at its UK and Ireland HQ as sales and profits continued to fall in the 12 months to 31 March 2025.
According to City A.M., the company’s UK turnover fell from £359.1 million the previous year to £321.5 million. Its turnover was at £401.7 million in the year prior to that.
The latest figures also show a pre-tax profit decline from £15.5 million to £9.8 million during the last financial year, with a company statement citing “a decrease in the sale to customers who are reducing their spend on new clothes and footwear”.
As consumer demand wanes amid the continued cost-of-living crisis and financial uncertainty across the board, VF Corporation UK and Ireland is working on finding solutions to improve its overall performance.
It added: “Sales growth is the primary objective of the company, driven by investing and supporting the best people and from product innovation emanating from significant investment in product design and innovation by its principals.
“Sales growth will be enhanced by the declared intention of its principals to invest in more owned or franchised activities which it believes will assist sales growth through the traditional channels of distribution.
“Increasing investment is being channelled into training and development focusing on improving all customer facing activities.”
The UK and Ireland division of the US apparel and footwear giant, which also owns the likes of Supreme, Napapijri, Eastpak, JanSport and Kipling, reportedly cut its workforce from 709 to 623 in the last financial year.
