VF Corporation is working with suppliers to minimize COVID-19 disruptions. Majority of the company’s vendors have resumed operations with full compliance to government rules. The company has opened all stores in the APAC region, including Mainland China, which re-opened during the first quarter while in the EMEA region, 90 per cent stores re-opened during the same period. In North America, 75 per cent of all retail stores opened by the end of the first quarter. Additional stores have re-opened since the end of the quarter, partially offset by over 120 retail stores that have since temporarily re-closed due to localized resurgence of COVID-19 outbreaks and resulting Government action and public health advisories.

VF Corp has announced the financial results of the first quarter ended on June 27, 2020. Revenue from continuing operations fell 48 per cent to reach $1.1 billion while revenue from the active segment revenue decreased 54 per cent and outdoor segment revenue slumped 44 per cent, including a 45 per cent decrease in The North Face® brand revenue.

The only positive aspect in this result was an increase of 78 per cent in digital revenue. Overall, international revenue decreased 39 per cent. While revenue from Europe was down 48 per cent, Greater China revenue was flat. The company also expects second quarter’s revenues to decline to 25 per cent.