VF Corporation, the owner of brands including Timberland, The North Face and Vans, has cut almost 90 jobs at its UK and Ireland headquarters as sales and profits declined during the 12 months ended 31st March 2025.
The company’s UK turnover fell to approximately US $ 408.3 million, down from US $ 456.1 million in the previous year. Turnover had stood at around US $ 510.2 million in the year prior to that.
The latest financial results also show a drop in pre-tax profit to about US $ 12.4 million, compared with approximately US $ 19.7 million in the previous financial year. In a statement, the company attributed the decline to reduced sales as customers cut back on spending on new clothing and footwear.
The statement noted that, against a backdrop of weakening consumer demand linked to the ongoing cost-of-living crisis and broader financial uncertainty, VF Corporation UK and Ireland is exploring measures to improve its overall performance.
According to the company, sales growth remains its primary objective and is expected to be driven by continued investment in people, alongside product innovation supported by significant spending on design and development by its brand principals. It further stated that sales growth would be strengthened by plans to invest in additional owned or franchised operations, which are expected to support performance through traditional distribution channels. Increased investment is also being directed towards training and development, with a focus on enhancing customer-facing activities.
The UK and Ireland arm of the US-based apparel and footwear group, which also owns brands such as Supreme, Napapijri, Eastpak, JanSport and Kipling, reportedly reduced its workforce from 709 to 623 during the last financial year.
